Banking apps on cell phones are helping people in rural areas manage their finances, said Pham Xuan Hoe, deputy director general of the Banking Strategy Institute at the State Bank of Vietnam (SBV) at the launching ceremony of the i3 programme held in Hanoi on November 14.
More commercial banks expect their credit growth limits to be expanded this year after Techcombank became the first to get the nod to do so from the State Bank of Vietnam (SBV) recently.
Prime Minister Nguyen Xuan Phuc has asked the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to boost its transparency, financial potential and management capacity in line with international standards.
The banking sector plays a key role in “green” investment, including directing credit flow into environmentally-friendly sectors and restricting flow into projects which might have negative impacts on the environment.
After suffering for nine consecutive sessions, strong rebounds of the benchmark VN Index last week raised hopes for a short-term recovery with forecasts predicted to touch 940-950 points this week.
Vietnam has seen a digital wave in the finance-banking industry, with many banks investing significantly into the segment, experts said at a recent conference.
Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year.
The State Bank of Vietnam (SBV) held a conference in Hanoi on October 25 to review the financial sector modernisation and information management system project.
Vietnamese commercial banks are racing to develop their networks by opening representative offices and subsidiaries in foreign nations, paving the way for them to expand their overseas operations, according to market watchers.
According to the General Statistics Office, as of September 20, the banking sector’s credit growth was 9.52 percent, much lower than the 11.02 percent rate recorded a year earlier.
The World Bank predicts Vietnam’s GDP growth this year at 6.8 percent in its East Asia Pacific Economic Update released on October 4, compared to the 6.5-percent projection last April.
The World Bank (WB) predicts Vietnam’s GDP growth this year at 6.8 percent in its East Asia Pacific Economic Update released on October 4, compared to the 6.5-percent projection last April.
Success of foreign banks in Vietnam has been fueling the volume of capital poured into the sector, while these banks are changing their operations to grow.
Vietnam’s finance and banking sector has reduced its ratio of non-performing loans from 17.2 percent in 2012 to 6.7 percent at the end of June 2018.
Vietnam’s finance and banking sector has reduced its ratio of non-performing loans (NPLs) – including both NPLs owned by credit institutions and the Vietnam Asset Management Company – from 17.2 percent in 2012 to 6.7 percent at the end of June 2018.
Vietnam has long treasured the substantial benefits of free trade, particularly amidst the formidable challenges posed by global trade protectionism which is currently threatening bilateral and multilateral trade deals, Prime Minister Nguyen Xuan Phuc has said.
Vietnam is one of the really special cases worldwide that will be able to take full advantage of all new opportunities in the Fourth Industrial Revolution (4IR), as told by a senior financial expert.
Deputy Prime Minister Vuong Dinh Hue received the Chairman and CEO of the Republic of Korea’s Kookmin (KB) Financial Group, Yoon Jong-kyoo, in Hanoi on September 7.
