ENGLISH FOR THE

FINANCIAL SECTOR
 TIẾNG ANH
TÀI CHÍNH - NGÂN HÀNG
 Lead in (p. 28)
• How do commercial banks make a profit?

• How do banks decide who to lend money to?

• How do they decide what rates to lend at?

• How can large corporations raise finance?

• Why do large companies generally prefer not to

borrow from banks?
 New Words (Lead in , p.28)
1. borrower (n) /ˈbɒr.əʊ.ər / a person who borrows something, especially money from a
bank. (người vay tiền)

-> Ex: Banks are encouraging new borrowers.

2. depositor (n) /dɪˈpɒz.ɪ.tər/ a person who keeps money at a bank. (người gửi tiền)

-> Ex: Depositors will be informed of any change in interest rates.

3. creditworthiness (n) /ˈkred.ɪtˌwɜː.ði.nəs/ the state of being creditworthy (= having enough

money for banks to be willing to lend you money). ( khả năng thanh toán nợ)

-> Ex: People with poor creditworthiness will have difficulty obtaining mortgage loans.
 New Words (Lead in , p.28)

4. debt finance (n) /detˈfaɪ.næns/ money that a company or government borrows in order to do

business or finance its activities, for example by selling bonds, taking out loans, or using credit -

companies either borrow money in the form of loans or bonds. (vốn vay)

-> Ex: Most of the money for developing the new plant will come from debt finance.

5. equity finance (n) /ˈek.wɪ.ti faɪ.næns/ the finance that a company gets from selling shares rather

than borrowing money. (vốn cổ phiếu)

-> Ex: Equity finance is an efficient way for SMEs to finance high-risk investments because it allows

investors to share more fully in the rewards of a successful venture.

(p.28)
 New words (Reading, p.28)

1. corporate bonds (n) /ˈkɔː.pər.ət bɒnd/ a bond that is produced and sold by a company.
(trái phiếu do công ty phát hành và được bán bởi công ty đó)

-> Ex: Telefonica intends to finance its expansion with $120 million in corporate bonds.

2. maturity date (n) /məˈtʃʊə.rə.ti deɪt/ the date on which an investment or insurance
product becomes ready to be paid. (ngày đáo hạn) = redemption date (n)

-> Ex: This could affect the value of all policies, regardless of maturity date.
 New words (Reading, p.28)

3. interval (n) /ˈɪn.tə.vəl/ a period between two events or times.

(khoảng thời gian giữa hai sự kiện)

-> Ex: We see each other at regular intervals - usually about once a month.

4. interest rate (n) /ˈɪn.trəst ˌreɪt/: the percentage amount that you pay for borrowing
money, or get for lending money, for a period of time, usually a year . (mức lãi suất)

-> Ex: The bank has plans to cut/raise interest rates.

 New Words (Reading, p.28)
5. tradeable (a) /ˈtreɪdəbl/ used to describe something that can be bought and sold. (có thể
mua bán được, có thể giao dịch)

-> Ex: tradeable shares/commodities/assets

6. credit risk (n) ˈkred.ɪt ˌrɪsk/ the degree to which it is possible that a person, company, or
government will not be able to pay back borrowed money. (rủi ro tín dụng)

-> Ex: Analysts say 30% of the bank's loans have a high credit risk.

7. AAA / Aaa (a) /ˌeɪ.eɪˈeɪ/ the highest rating is given only to top-quality institutions, with
minimal credit risk. (mức xếp hạng cao nhất)

-> Ex: The fund was awarded an AAA rating by a Wall Street bond house.
 New Words (Reading, p.28)
8. disintermediation (n) /dɪsˌɪntəmiːdiˈeɪʃən/ the situation in which sellers and buyers of
financial products deal directly with each other, rather than using banks. (quá trình xóa bỏ
trung gian)

-> Ex: The internet is, potentially, the greatest force for disintermediation the banks have ever
had to tackle.

9. rating (n) /ˈreɪ.tɪŋ/ a calculation by a ratings agency of the level of risk of an investment or
loan. (sự đánh giá định lượng, xếp hạng)

-> Ex: A policy condition is that the securities must be rated in the four top rating categories by
S&P or Moody's.
Reading (Part 1, p.28)
(P.29)
(p.29)
 New Words (Vocabulary, p. 29)
1. collateral (n) /kəˈlæt.ər.əl/ valuable property owned by someone who wants to borrow
money, that they agree will become the property of the company or person who lends the
money if the debt is not paid back. (tài sản thế chấp)

-> Ex: Debt counsellors are concerned by the trend towards using houses as collateral against
debt.

2. portfolio (n) /ˌpɔːtˈfəʊ.li.əʊ/ a collection of company shares and other investments that are
owned by a particular person or organization. (danh mục đầu tư)

-> Ex: These funds are less risky because you hold a portfolio selected and monitored by a
specialist manager.
 New Words (Vocabulary, p. 29)

3. EBIT (n) /ˈebɪt/ (Earnings Before Interest and Taxes) a company's profits in a particular period,
before taking away interest charges and tax payments . (lợi nhuận của doanh nghiệp trước khi trừ đi các
chi phí trả lãi và các khoản chi trả thuế)

-> Ex: The EBIT figure more closely reflects the group's cash flow for the half-year.

4. cash flow (n) (UK) /ˈkæʃ ˌfləʊ/ the amount of money moving into and out of a business. (sự quay
vòng vốn/ việc luân chuyển dòng tiền)

-> Ex: It is a well-run company with strong cash flow.

5. credit limit (n) /ˈkred.ɪt ˌlɪm.ɪt/ the maximum amount of money that a bank will allow someone to
borrow. (hạn mức tín dụng)

-> Ex: A fee is charged when you exceed your credit limit.
 New Words (Vocabulary, p. 29)
6. margin (n) /ˈmɑː.dʒɪn/ the difference between the amount of a loan and the value of the collateral.

(phần chênh lệch giữa khoản vay và giá trị của tài sản thế chấp, biên độ)

-> Ex: The risk of default needs to be correctly priced in the bank's loan margins.

7. overhead costs (n) /ˈəʊ.və.hed kɒsts/ the cost of something that is not directly involved in making a

particular product or providing a particular service, for example the cost of renting a building or of

training staff. (chi phí chung)

-> Ex: The grant also includes money for indirect costs, such as building space and utility bills.
(p.30)
 New Words (Listening 1, p.30)
1. annual report (n) /ˈæn.ju.əl a report made by a company each year that includes the
company's audited (= officially examined) accounts, along with statements of profits or loss
and how the management thinks the company will do in the future. (bảng báo cáo hàng năm)

-> Ex: In their annual report, the directors stated that uncertainty in the financial services
marketplace had adversely affected trading.

2. evaluate (v) /ɪˈvæl.ju.eɪt/ to judge the quality, importance, amount, or value of someone or
something. (đánh giá)

-> Ex: Employees will be evaluated on their performance, attendance, and team skills.
 New Words (Listening 1,p.30)
3. short-term loan (n) /ˌʃɔːtˈtɜːm ləʊn/ money that is lent for a short time, usually less than
one year. (khoản vay ngắn hạn) # long -term loan (n) khoản vay dài hạn

-> Ex: He secured financing for the project - two short-term loans for $80,000 and $30,000.

4. repay (v) /rɪˈpeɪ/ to pay back money that you have borrowed. (trả nợ, thanh toán nợ)

-> Ex: We were told we would have to repay $32 a month.

5. finance (v) /ˈfaɪ.næns/ to provide the money needed for something to happen. (cấp vốn)

-> Ex: 20% of the budget has been set aside to help finance the project.
 New Words (Listening 1, p.30)

6. sector (n) /ˈsek.tər/ one of the areas of activity that a country's economy is divided into. (lĩnh

vực, ngành)

-> Ex: the banking/business/financial sector

7. limit (n) /ˈlɪm.ɪt/ the greatest amount, number, or level that is possible or allowed. (hạn mức)

-> Ex: Wages accounted for 57% of turnover - just under the 60% limit recommended by

industry experts.
 New Words (Listening 1, p.30)

8. overstep (v) /ˌəʊ.vəˈstep/ to go beyond what is permitted or acceptable. (vượt quá những

gì được cho phép hoặc có thể chấp nhận được)

-> Ex: I think you're overstepping your authority.

9. approval (n) /əˈpruː.vəl/ official permission or agreement for something. (sự tán thành, sự

đồng ý)

-> Ex: The measure still needs final approval.

(p.30)
 New Words (Listening 2, p. 30)
1. factor (n) /ˈfæk.tər/ one of several things that affects or influences a situation. (nhân tố)

-> Ex: Price will be a major/crucial factor in the success of this new product.

2. determine (v) /dɪˈtɝː.mɪn/ to control or influence something directly, or to decide what

will happen. (quyết định)

-> Ex: The company will determine which stores to close by the end of November.

3. advantage (n) (UK) /ədˈvɑːn.tɪdʒ/ - (US) /ədˈvæn.t̬ ɪdʒ/ a good feature that makes
something better than similar things. (lợi thế) # disadvantage (n)

-> Ex: Smaller businesses often have an advantage in the area of customer relations.
 New Words (Listening 2, p.30)
4. calculate (v) /ˈkæl.kjə.leɪt/ to find an amount or number using mathematics. (tính toán)

-> Ex: Their pension will be calculated on the basis of their earnings and length of service.

 calculation (n) /ˌkæl.kjəˈleɪ.ʃən/ the process of finding an amount or number using

mathematics. (sự tính toán)

-> Ex: A calculation of their tax liability will be made from their account books.

5. capital market (n) /ˈkæp.ɪ.təl ˈmɑː.kɪt/ the system of financial organizations from which
companies and governments raise money selling stocks, bonds, etc. to investors. (thị trường
vốn)

-> Ex: The bonds will be sold on the capital market.

 New Words (Listening 2, p. 30)

6. agreement (n) /əˈɡriː.mənt/ a decision or arrangement that has been made and accepted by two or
more people, groups, organizations. (sự đồng ý, sự nhất trí)

-> Ex: Despite recent discussions between the two companies, they failed to reach an agreement on the
terms of a possible merger.

7. acceptable (a) /əkˈsept.ə.bəl/ satisfactory and able to be agreed to or approved of . (có thể chấp nhận
được)

-> Ex: An offer that is acceptable to the union leaders might still be voted down by the union members.

8. go bust (v) / /ɡəʊ bʌst/ if a company goes bust, it is forced to close because it is financially
unsuccessful. (phá sản)
-> Ex: More than 20 companies in the district went bust during the last three months.
(p.30)
Language Focus (Part 3, p.31)
Language Focus (Part 4, p.31)
 HOMEWORK
 Complete workbook exercises: 3.4 ; 3.7 và 3.9

 Review Unit 3, prepare for Unit 4