Over 124,000 Soc Trang households escape poverty
Over 124,000 households in the Mekong Delta province of Soc Trang have escaped poverty thanks to State preferential loans over the past 15 years.
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Over 124,000 households in the Mekong Delta province of Soc Trang have escaped poverty thanks to State preferential loans over the past 15 years.
Credit institutions in which the State controls over 50 percent of charter capital will now be subject to assessment, according to a circular drafted by the Ministry of Finance.
State Bank of Vietnam statistics show that the average capital adequacy ratio (CAR) of the banking sector has been consistently falling since the beginning of this year.
The Vietnam Asset Management Company (VAMC) will need more capital to further benefit from the National Assembly’s recent resolution on the settlement of non-performing loans (NPLs), experts said.
A National Assembly resolution on non-performing loans will take effect on August 15 with lawmakers hopeful it will help resolve much of the remaining bad debts held by commercial banks and real estate projects across the nation.
The National Financial Supervision Commision has assessed in its financial report for July that declines in the interest rate for the rest of 2017 will be supported by both domestic and international factors.
Shares rose stronger in July 31 afternoon trading as bank stocks accelerated their growth on the back of positive first-half business earnings.
The Bank for Investment and Development of Vietnam (BIDV) reported a year-on-year growth of 24 percent in operating income in the first half of 2017.
The Prime Minister has issued Decision 1058/QD-TTg approving a project on restructuring the system of credit institutions in combination with settling bad debt for the 2016-2020 period.
Deputy Prime Minister Vuong Dinh Hue held working sessions with some Australian officials on July 24 to seek measures to further foster partnership between the two countries.
Sacombank aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017, with the bank taking drastic measures to implement a restructuring scheme, said its chairman Duong Cong Minh.
The central bank on July 21 held an online conference to prepare for the implementation of the scheme to settle non-performing loans (NPL) and restructure credit institutions in the 2016-20 period.
Vietnam posted a credit growth rate of 9.06 percent as of June 30 compared to the end of last year, which did not pressure interest rates, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said on July 21.
Prime Minister Nguyen Xuan Phuc has taken action so that the National Assembly’s new resolution on bad debt settlement could be applied from August 15.
The domestic stock market experienced positive developments in the first half of this year, with growth seen in both the VN-Index and HNX-Index.
The execution of civil judgments recorded good results in the first half of this year, with 314,000 cases being handled, up 3 percent against the same period last year, heard a teleconference on July 10.
Vo Tri Thanh, a senior economist at the CIEM and a member of the National Financial and Monetary Policy Advisory Council, has given his analyses of the way to achieve the 2017 GDP target.
Better credit policies and higher consumption of farming products are necessary to ensure efficient use of funds borrowed for hi-tech agricultural projects, experts said at a seminar in Hanoi on July 4.
