Central bank focuses on improving credit quality Business

Central bank focuses on improving credit quality

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has issued Directive No.01/CT-NHNN on organising the implementation of the key tasks of the banking sector, with a focus on improving credit quality and tightly controlling loans to potentially risky industries.
Vietcombank’s bad debts lowest ever in 2020 Business

Vietcombank’s bad debts lowest ever in 2020

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) recorded a bad debt ratio of 0.6 percent last year, the lowest so far and in the sector, compared to 0.78 percent in 2019.
Central bank proposes expanding VAMC's operation Business

Central bank proposes expanding VAMC's operation

The State Bank of Vietnam (SBV) has proposed expanding the Vietnam Asset Management Company's (VAMC) operations, saying the agency should purchase and sell bad debts and assets of all sectors in the economy.
Politburo member given warning as disciplinary measure Politics

Politburo member given warning as disciplinary measure

The Politburo has decided to give a warning to Politburo member, Secretary of the Party Central Committee and head of the Party Central Committee’s Economic Commission Nguyen Van Binh as a disciplinary measure for his mistakes during the time he served as Governor of the State Bank of Vietnam.
Greater efforts needed to tackle bad debts: Experts Business

Greater efforts needed to tackle bad debts: Experts

The Government has directed the State Bank of Vietnam (SBV) to add non-performing loan (NPL) settlement regulations under Resolution No.42/2017/QH14 into the revised Law on Credit Institutions, SBV Deputy Governor Nguyen Kim Anh has said.
Banks’ profit forecast to drop significantly in H2 Business

Banks’ profit forecast to drop significantly in H2

The pre-tax profit of the banking system in the second half of this year is estimated to fall 22.1 percent compared to the same period last year due to an increase in provisions for risky loans in the wake of the COVID-19 pandemic.