Party economic commission head receives Japanese SMBC leader Business

Party economic commission head receives Japanese SMBC leader

Politburo member and Head of the Party Central Committee’s Economic Commission Nguyen Van Binh hosted a reception in Hanoi on November 23 for Chairman of the Board of Japan’s Sumitomo Mitsu Financial Group (SMFG) and Sumitomo Mitsu Banking Corporation (SMBC) Koichi Miyata.
SBV urges resolution to bad loans Business

SBV urges resolution to bad loans

The State Bank of Vietnam (SBV) has issued a document asking credit institutions and branches of foreign banks to push the resolving of non-performing loans in 2018.
Economy needs breakthrough firms Business

Economy needs breakthrough firms

The Vietnamese economy needs “breakthrough businesses” to improve competitiveness and the quality of GDP growth, experts said at a conference held in HCM City on November 21.
Terms for VAMC bonds extended Business

Terms for VAMC bonds extended

Terms for bonds issued by the Vietnam Asset Management Company to buy bad debts from credit institutions, will be extended from five years to 10 years in some cases.
Interest reduced on dollar, euro loans Business

Interest reduced on dollar, euro loans

The Vietnam Asset Management Company (VAMC) has cut the applicable interest rates on euro and US dollar-denominated non-performing loans (NPLs) purchased from credit institutions.
Vietnam’s shares jump, led by banks Business

Vietnam’s shares jump, led by banks

Vietnamese shares rose on both local bourses on December 8, led by the financial sector after it was announced that a large amount of bad loans were sold to the Vietnam Asset Management Corporation.
Improved economy helps Vietnamese banks Business

Improved economy helps Vietnamese banks

Improved macroeconomic stability was likely to help Vietnamese banks curb new non-performing loans (NPL), Fitch Ratings said in its latest Asia-Pacific Banks Chart of the Month report on Vietnam.
Local shares end four-day slump Business

Local shares end four-day slump

Vietnamese shares rose slightly on November 12 on both local exchanges, ending a four-day losing streak, as local bank stocks inched up following a positive assessment from Fitch Ratings.
Banks need more funds for non-performing loans Business

Banks need more funds for non-performing loans

Banks will need more provisional funds to support the risk of non-performing loans (NPLs) in accordance with national requirements for controlling bad debts, reported Dau tu (Vietnam Investment Review) online.