Vietnamplus

The State Bank of Vietnam (SBV) has released the banking sector’s plan to implement the national strategy on developing a digital economy and digital society by 2025, with a vision to 2030.

Credit of the banking system by the end of October this year rose by 11.5% compared to the end of 2021, Bao Viet Securities Company (BVSC) said, citing data from the State Bank of Vietnam (SBV).

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

A majority of credit institutions (CIs) are optimistic about their business performance in Q3 2022, the State Bank of Vietnam (SBV)’s latest survey on business trends of credit institutions showed.

The banking industry may have a hard time reaching its 2022 profit growth targets, but share valuations have dropped significantly to attractive prices.

The National Assembly (NA) has agreed to extend a pilot resolution on bad debt settlement until the end of 2023 instead of this year.

The National Assembly (NA) spent the 13th working day of its third session on asking officials about issues relevant to agriculture and rural development, finance, and banking.

Commercial banks are expecting to have higher credit growth limits in Q2 2022 as they have already used up most of their assigned quota this year.

In the face of rising bad debt amid the ongoing COVID-19 pandemic, commercial banks have been forced to write up their loan loss provisions, according to industry sources.

Sacombank has won two awards, the ‘Vietnam Domestic Trade Finance Bank of the Year’ and ‘Vietnam Domestic Technology and Operations Bank of the Year,’ from The Asian Banking and Finance magazine.

The State Bank of Vietnam (SBV) has flexibly operated monetary policy tools to maintain liquidity for the banking system, contributing to stabilising and recovering credit growth in the context of unpredictable impacts of the COVID-19 pandemic.

Vietnam's banking sector sees greatest year-on-year brand value growth at 23%, according to Brand Finance Banking 500. Nine Vietnam banks in the list increase their global brand finance ranking.

Private banks have posted significant growth in credit market share in the past five years.

The COVID-19 pandemic has speeded up the banking sector’s awareness of digitisation by three to five years and forced lenders to accelerate the process to survive and grow.

Many banks have cut deposit interest rates after the State Bank of Vietnam (SBV) lowered the ceiling levels of interest rates from October 1.

Big data is a vital issue for banks in the digital transformation process, with data sharing and security top concerns, experts have said.

Commercial banks are trying to boost individual consumer loans, especially to home and car buyers, since credit growth had slowed due to low capital demand from businesses.

Vietnam has seen a digital wave in the finance-banking industry, with many lenders investing significantly in digitisation, experts have said.

Banks are ready to seize business opportunities in the coming months as the COVID-19 pandemic has been basically controlled in Vietnam and domestic production and business are expected to accelerate soon.

Credit institutions in Vietnam settled more than 26.94 trillion VND (1.17 billion USD) of non-performing loans (NPLs) in the first quarter of this year.