Vietnamplus

The liquidity of the whole banking system has remained good, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has said.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has underscored that credit governance must be prudent to help curb inflation and stabilise the macro-economy when responding to legislators’ concern about credit for real estate.

Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha has said.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has underlined the need for proactive and flexible response to changes to control inflation and stabilise the macro-economy while talking about some issues mentioned by legislators on October 28.

The Vietnamese central bank’s move to lift short-term deposit rate caps is likely to raise the average cost of funds – both deposit and interbank rates – for Vietnamese commercial banks.

As of September 16, credit grew 10.47% against the end of 2021 and 17.19% against the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

The State Bank of Vietnam (SBV) will persist in monetary policy management solutions towards macroeconomic stability, but closely follow all developments to manage the situation in an appropriate manner, SBV Governor Nguyen Thi Hong said, given the Federal Reserve System (Fed)’s latest interest rate increase.

The State Bank of Vietnam (SBV) has announced adjustments to credit growth targets for banks in 2022.

The State Bank of Vietnam (SBV) decided to sharply increase the selling price of the US dollar by 300 VND to 23,700 VND/USD on September 7.

Banks must tighten their assessment control of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said.

The State Bank of Vietnam (SBV) and the Banking Working Group (BWG) jointly held a conference in Hanoi on July 16 to discuss measures to attract resources for the implementation of green growth and sustainable development targets.

Some qualified commercial banks are forecast to get higher credit growth quotas from the State Bank of Việt Nam (SBV) in the next few months.

Prime Minister Pham Minh Chinh on August 4 commended efforts by the banking sector in digital transformation with diverse products and services for people and businesses.

The State Bank of Vietnam (SBV) has given timely instructions to banks in order to prevent risks and acts that take advantage of virtual currencies in transactions, Deputy Governor Dao Minh Tu has said.

Though the gap between domestic and global gold prices is significant, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong said it is reasonable due to restricted supply.

The State Bank of Vietnam (SBV) will give flexible and suitable management to guide credit resources to business and production activities and create favourable conditions for workers and low-income earners to access capital for house purchase, Governor Nguyen Thi Hong said on August 1.

The World Bank (WB) and the State Bank of Vietnam (SBV) on July 26 signed an agreement on the provision of a 2.5 million USD grant from the Japan Social Development Fund to finance a project that will strengthen the delivery of legal aid services to vulnerable groups in the northern part of Vietnam, focusing on Dien Bien and Yen Bai provinces.

The expiration of Circular 14 on debt rescheduling and interest rates reduction in late June is likely to expose banks to higher levels of non-performing loans (NPLs), yet insiders say it is unnecessary to extend it.

The State Bank of Vietnam (SBV) has so far this year sold about 12-13 billion USD to stabilise the domestic forex market, according to Viet Dragon Securities Corporation (VDSC).

Agricultural loan outstanding has reached close to 2.8 quadrillion VND (119.44 billion USD), accounting for roughly 25% of total loan outstanding, according to Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.