The State Bank of Vietnam (SBV) should develop policies for commercial banks, helping them disburse capital mobilised from organisations and people, said economic expert Nguyen Minh Phong.
The State Bank of Vietnam (SBV) has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.
Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.
A national plan is scheduled to be issued this year so as to serve as a basis to engage state agencies, businesses and individuals in digital transformation – a leading factor in growth facilitation and digital economy development.
Most banks will not officially set their annual targets until their shareholder meetings in April, but many bank leaders are optimistic about 2019 with plans to increase profits through cutting operating costs and promoting digital services.
VP Bank Finance Company Limited (FE CREDIT), one of the largest credit card issuers in Vietnam, scored a hat-trick of gongs at the 5th Annual Cards and Electronic Payments International (CEPI) Asia Awards 2018.
Commercial banks are expecting the revenue from fees and retail banking services to become their main income sources this year, as a result of rising market demands.
Together with high profits of trillions of VND at the end of 2017, domestic commercial banks reportedly hired thousands of employees to boost their performances and seize new opportunities.
Government bonds have recently seen strong foreign buying despite the facts that the USD is expected to continue appreciating and Vietnam has no incentives to attract foreign investment in its bonds.
The banking system is expected to further develop this year, as 16 banks have announced plans to increase capital by a total of nearly 37 trillion VND (1.62 billion USD).
Business
