The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Vietnam (SAV).
Many banks have recently announced they will recruit a large number of personnel to meet their business expansion plans in 2019.
Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
The Vietnam Bank for Agriculture and Rural Development (Agribank) has been recently named in the top 500 strongest banks (AB500) in Asia-Pacific by the Asian Banker.
The domestic gold market is heating up with gold shops introducing various products to take advantage of huge demand on the God of Wealth Day - the 10th day of the Lunar New Year, which falls on February 14 this year.
The number of non-performing loans (NPLs) at many banks has decreased dramatically in the past few months, with some even posting a decline of more than half.
The State Bank of Vietnam (SBV) has set a target to stop cross-ownership among credit institutions (CIs) by the end of 2020.
The Ministry of Industry and Trade (MoIT) will conduct annual inspections on a number of State and private businesses in different sectors, including those involved in petroleum, telecommunications, pharmaceuticals and multi-level marketing.
The High-Level People’s Court in Ho Chi Minh City on December 25 upheld the prison sentences given by the municipal People’s Court to 12 defendants involved in the losses of over 6 trillion VND (258 million USD) at the Vietnam Construction Bank (VNCB).
The Lao branch of Ho Chi Minh City-based Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank Laos) celebrated its 10th founding anniversary during a ceremony in Vientiane on December 12.
Credit growth in the next three to five years is forecast to be around 14 percent per year, lower than the average rate of 18.1 percent in the 2015-17 period.
The State Bank of Vietnam has allowed Vietcombank to apply minimum capital adequacy ratio requirements following Basel II standards one year earlier than the deadline initially set by the central bank.
The State Bank of Vietnam (SBV) is drafting a new circular on foreign currency lending, allowing credit institutions and foreign bank branches to extend loans to some borrowers in 2019 instead of cutting them off at the end of this year as planned.
Moody's Investors Service has upgraded the baseline credit assessments (BCAs) of 12 Vietnamese banks in its latest report released on October 30.
Vietnamese commercial banks are racing to develop their networks by opening representative offices and subsidiaries in foreign nations, paving the way for them to expand their overseas operations, according to market watchers.
Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year.
According to the General Statistics Office, as of September 20, the banking sector’s credit growth was 9.52 percent, much lower than the 11.02 percent rate recorded a year earlier.
Domestic banks have been expanding their network of branches and transaction offices rapidly in recent years in an effort to increase market share.
