Overall nine-month economy positive Business

Overall nine-month economy positive

Vietnam’s economy continued recovering during the first nine months of 2015 and showed improved performance from the same period last year, as illustrated in encouraging indexes.
Credit grows by 6.09 percent in first half of 2015 Business

Credit grows by 6.09 percent in first half of 2015

Vietnam recorded a credit growth rate of 6.09 percent by June 18 compared to the end of 2014 and 18.98 percent from the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.
Business

HCM City targets 13 percent credit growth rate in 2015

The State Bank of Vietnam’s Ho Chi Minh City branch has set targets of 13 percent credit growth rate, 12 percent deposit growth rate, under 3 percent bad debt ratio and better-than-last year business results in 2015, said the branch director To Duy Lam.
Business

Experts optimistic about credit market

Experts have shown optimism despite the slow credit growth over the past six months, which had raised concerns over the banking system's ability to reach the year's target of 12-14 percent growth.

According to statistics from the State Bank of Vietnam, the credit growth rate in the first six months of this year was only 3.52 percent, while the growth rate over the same period last year was 4.7 percent.
Business

State Bank official optimistic about credit market

One official from the State Bank of Vietnam (SBV) said in a recent interview that banks are applying better lending policies and credit will grow around 14 percent this year, according to the English-language news website dtinews.vn.
Business

Low credit growth target for 2014

Despite significant improvement, credit is unlikely to reach the 12 percent growth target this year. Economists are worried that the slow growth in 2013 would continue in 2014. For this reason, economic experts have offered proposals, regarding monetary policy for 2014. Report by Vietnam Economic News.
Business

Modest profits help banks regain optimism

Banks have reported profits for the third quarter of the year after two gloomy quarters. They now can breathe easily again, though the profits were modest. The Vietnam Net online newspaper reports.
Business

State bank endeavours to constrain inflation

The State Bank of Vietnam (SBV) will make moves to reduce the dollarisation of the national economy to use the VND as the only means of payment in the country, said a SBV senior official.

Solutions to dollarisation will be submitted to the Government as part of the SBV’s moves to constrain inflation, stabilise the macro-economy and ensure social welfare in line with the Government’s plans.

Business

Experts anticipate inflation under 10pc in 2011

Vietnam’s inflation rate this year is estimated at under 10 percent, according to Le Xuan Nghia, Vice Chairman of the National Financial Supervisory Commission (NFSC).

Under the predictions of NFSC, the adjustment of the USD/VND exchange rate and the increases in electricity and petrol prices from March 1 will push the year’s CPI up by 2.5 percent.
Business

Credit growth slows as year ends

There will not be a surge in credit growth from now through year’s end as commercial banks are facing difficulties in mobilising capital, Deputy General Director of Lien Viet Commercial Joint Stock Bank Doan Van Thang has said.