Banks gain big profits from forex trading Business

Banks gain big profits from forex trading

Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.
Central bank stands ready to pump more foreign currencies to market: official Business

Central bank stands ready to pump more foreign currencies to market: official

The State Bank of Vietnam (SBV) will increase its interference in the foreign currency market and stay ready to pump money to the market more frequently, thus creating favourable conditions for credit institutions to meet the demand for legal foreign currencies of organisations and individuals, according to Vice Director of the SBV’s Monetary Policy Department Pham Chi Quang.
Officials clarify measures to control credit in risky areas, petrol prices Business

Officials clarify measures to control credit in risky areas, petrol prices

The State Bank of Vietnam (SBV) has been consistent in its policy to strictly control the credit flows into areas with high risks such as real estate and securities, and the policy will continue to be implemented in 2022 and following years, said SBV Deputy Governor Dao Minh Tu at a regular Government press conference on June 4.
Credit supply sees two-fold rise Business

Credit supply sees two-fold rise

Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
Credit growth in Q1 2022 hits high level Business

Credit growth in Q1 2022 hits high level

Credit growth of credit institutions was quite positive at 5.04 percent at the end of the first quarter of this year, much higher than the 2.16 percent rise in the same period last year, the State Bank of Vietnam (SBV)’s Deputy Governor Dao Minh Tu said at the Government’s regular press conference in March.
Capital demand remains high after Lunar New Year holiday Business

Capital demand remains high after Lunar New Year holiday

The State Bank of Vietnam (SBV) has to continually inject money to support the liquidity of the banking system as the capital demand and interest rates on the interbank market have remained high though the Tet (Lunar New Year) holiday has ended.