Economic difficulties are on the shoulders of the banking industry as it has to stabilise the macro-economy, control inflation, and support economic growth and businesses, experts have said.
Non-cash payment transactions witnessed a significant surge in the first two months of this year, indicating a notable shift in customers’ behaviour towards modern financial services.
The banking industry will continue to face difficulties in 2023 in the context of the real estate market downtrend and the less positive import and export outlook, analysts forecast.
Weak banks that are restructuring will be the target of merger and acquisition (M&A) deals in the near future as the Government is strongly promoting the restructuring of the country’s finance and banking industry.
Though banks gained profits of trillions of Vietnamese dong in Q3 2022, credit quality has remained a concern of the banking industry, especially when Circular No. 14/2021/TT-NHNN on loan rescheduling for COVID-19 affected borrowers expired at the end of June this year.
Mergers and acquisitions (M&A) in the banking industry are expected to remain high for the rest of the year as the industry continues the digital transformation process, according to experts.
The banking industry may have a hard time reaching its 2022 profit growth targets, but share valuations have dropped significantly to attractive prices.
Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Vietnam (SBV)'s policy on controlling credit growth in risky areas.
Nearly 60 percent of credit institutions forecast their business performance results to improve in Q2 after estimating those in Q1 to be not as good as expected, the latest survey by the State Bank of Vietnam (SBV) showed.
The State Bank of Vietnam (SBV) has proposed to continually handle bad debts of credit institutions based on the provisions of pilot Resolution 42/2017/QH14 until 2025 instead of this year.
The whole banking industry must implement effective monetary and credit policies to contribute to developing production and business and support the recovery of the economy, Deputy Prime Minister Le Minh Khai has said.
Profits of the banking industry in the third quarter of 2021 would decrease by 19 percent compared to the previous quarter due to slowing credit growth and increasing provision expenses, Yuanta Securities Vietnam estimated.
Forbes Vietnam has unveiled a list of the top 25 valuable financial brands in Vietnam, which are worth a combined 3.95 billion, with HDBank in the top eight with a value of 162 million USD.
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