Banks show positive results during third quarter
Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.
Banking system’s bad debt ratio surges to 3.56%
The bad debt ratio of the banking system skyrocketed from 2% at the beginning of this year to 3.56%, or more than 440 trillion VND, at the end of July 2023, according to the latest data from the State Bank of Vietnam (SBV).
Banks report higher profits
Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.
Banking system crucial to economy: official
The banking system and operations of credit institutions are crucial to the nation's economy, according to an official.
Detailed guidance needed to tackle bad debt: experts
Settling non-performing loans (NPLs) has been easier since the application of Nation Assembly’s Resolution 42 a year ago, but detailed guidance is still needed to make the use of the regulation smoother, industry insiders said.
State capital at credit institutions to be assessed
Credit institutions in which the State controls over 50 percent of charter capital will now be subject to assessment, according to a circular drafted by the Ministry of Finance.
VAMC issues 243 trillion VND of special bonds
The Vietnam Asset Management Company (VAMC) issued over 234 trillion VND (10.4 billion USD) worth of special bonds as of 2015, according to VAMC General Director Nguyen Huu Thuy.