Business

Central bank seeks fresh impetus for green credit growth

The State Bank of Vietnam (SBV) issued a rule that would push up green credit and environmental risk management in the credit-granting process so it could implement the National Action Plan on Green Growth.

Experts and commercial banks said SBV's decision helped create a level playing field for green credit growth. Green banking is controlled by the same authorities as regular banking, but takes more care to assure its actions benefit the country's environment, society and natural resources.

In a recent seminar on green credit and banking, Nguyen Thi Kim Thanh, head of the SBV's Banking Strategy Institute, said the banking sector had contributed to the country's socio-economic development by playing the role of financial broker and promoting growth.
World

Moody’s outlook on Singapore banking system remains negative

Moody’s Investors Service said in a statement on July 8 that its outlook on Singapore's banking system in the next 12-18 months is negative as it has been since July 2013, due to the country’s rising interest rates and potentially more bad loans.
Business

Banks put forward merger and acquisition plans

Several banks have recently presented plans or expressed intention to complete mergers even as the nation continues to speed up the restructuring of credit institutions.

Vietcombank Chairman Nguyen Hoa Binh told a recent shareholder meeting in Hanoi that mergers and acquisitions (M&As) may happen at the bank in a near future as they are necessary for growth. The bank has plans to raise capital for M&As if and when conditions permit.
Business

Real estate market shows eased signs

Experts speculate that the real estate market’s big freeze may be showing signs of thawing, with many confident that some segments will see an upsurge activity in 2014, says Vietnam Investment Review.
Business

Foreign investors flock to Vietnamese stock market

Authorities have granted nearly 360 individual transaction codes for foreign investors in the January-October period, 2.5 times higher than that in the same period in 2012, the Vietnam Net online newspaper has reported, citing sources from the Vietnam Securities Depository Center.
Business

City banks' non-performing loans still high

Non-performing loans (NPLs) accounted for 5.99 percent of the total loans of Ho Chi Minh City-based banks in the first nine months of this year, said Nguyen Hoang Minh, deputy director of the State Bank of Vietnam's Ho Chi Minh City branch.
Business

VAMC begins bad debt business

The Vietnam Asset Management Company (VAMC) has bought up its first batch of bad debt. VAMC Vice President Nguyen Quoc Hung spoke to Vietnam Economic Times newspaper about the company's role.
Banks in a rush to clear bad loans Business

Banks in a rush to clear bad loans

Around 10 credit institutions are queuing up to sell their non-performing loans to the Vietnam Asset Management Company (VAMC), in an attempt to shore up their balance sheets
Business

Central bank issues regulations for VAMC

The State Bank of Vietnam on September 25 announced administrative procedures relating to selling, buying and solving bad debts from domestic credit institutions for the Vietnam Assets Management Company.
Business

VAMC ready to start restructuring of bad debts

The Vietnam Asset Management Company (VAMC), a powerful legal entity established to restructure the bad debts of the State Bank of Vietnam (SBV), officially began operations in Hanoi on July 26.
Business

Banks to sell non-performing loans

Banks with non-performing loan (NPL) ratios of 3 percent or more will have to sell the loans to the Vietnam Asset Management Company (VAMC), a new group due to officially begin operations on July 9 this year, according to a newly-issued decree.
VNA, State Bank work for closer cooperation Society

VNA, State Bank work for closer cooperation

The Vietnam News Agency (VNA) and the State Bank of Vietnam (SBV) have reached an agreement that looks the bank’s continued provision of information relating to monetary policy, finance, inflation control and macro-economic management for the agency.