Affordable bank credit has supported businesses in key sectors that drive the country’s economic growth, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City office, told a conference on October 31.
Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.
Analysts predict peak bond maturity pressure in the fourth quarter of this year, with the real estate sector facing the most significant burden at over 43% by October 4.
The Bank for Investment and Development of Cambodia (BIDC) - a subsidiary of the Bank for Investment and Development of Vietnam (BIDV) in Cambodia, held a ceremony on September 6 to receive a noble award from the King of Cambodia and celebrate its 15th founding anniversary.
Prime Minister Pham Minh Chinh has set three major digital transformation targets for the banking sector, including creating the most favourable conditions for people, businesses and agencies to access banking services.
The corporate bond market is expected to remain relatively sluggish until the end of the first quarter of 2024, as conditions for issuing and trading corporate bonds tighten.
Prime Minister Pham Minh Chinh on January 8 asked the banking sector to maintain its role as the “blood of life” for the national economy, while addressing a conference in Hanoi on January 8.
The banking sector will continue to face great challenges in 2024, especially those from bad debts when Circular 02/2023/TT-NHNN of the State Bank of Vietnam on credit institutions and foreign bank branches' debt rescheduling and maintaining loan categories to help clients in difficulties expires on June 30, 2024.
Over 209.15 trillion VND (over 8.61 billion USD) was raised from the issuance of corporate bonds in the first 10 months of 2023, according to data compiled by the Vietnam Bond Market Association (VBMA) from the Hanoi Stock Exchange (HNX) and the State Securities Commission (SSC).
Many domestic banks have reported positive growth in profit in the third quarter and the first nine months of 2023 even amid the slow credit expansion and a downturn trend in profit of the whole banking sector.
Thanks to drastic efforts by the Government, credit growth is expected to increase positively in the last months of this year, helping ease difficulties for businesses and propelling forward the development of the economy.
The Government Office on July 31 issued a notice on Prime Minister Pham Minh Chinh’s opinions at a recent conference reviewing the performance of the banking sector in the first half of this year, and setting forth tasks for the remaining months.
The prevalence of cross-shareholding in the banking sector has caused concerns among experts as they believe the situation could render banks' financial valuations inaccurate.
The banking sector should take more drastic measures to restructure credit institutions in association with the settlement of bad debts to contribute to curbing inflation and stabilising macro-economic factors, according to insiders.
Vietnam's banking sector has invested over VND15,000 trillion in digital transformation by the end of 2022, according to the State Bank of Vietnam (SBV).
The digital transformation day of the banking sector will be held on May 18, the State Bank of Vietnam (SBV) announced at a press conference in Hanoi on May 11.
Foreign investors’ continuous investment in Vietnam has shown their optimistic about the country’s economic outlook, despite the difficult situation of the global banking sector.
The State Bank of Vietnam must step up efforts in the management of the country's banking sector and prepare for all possible scenarios for timely and effective interventions, according to the World Bank (WB).
