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The capitalisation of Vietnam’s banking sector is expected to increase by nearly 2.8 billion USD this year.

The banking sector hopes that by 2025, the volume of mobile payment transactions will grow by 50 - 80 percent while transaction value will surge 80 - 100 percent annually.

The banking sector needs to have countermeasures to flexibly adapt to the COVID-19 pandemic. This will help to reduce costs, promote innovation, digital transformation and cashless payment, towards assisting the retail banking sector to providing breakthrough services in the new normal.

Credit growth momentum is forecast to be more positive this year than in 2021 due to the State Bank of Vietnam (SBV)’s flexible management policy. The focus is to control inflation, while keeping the macro-economy stable to underpin and support economic growth.

It's too early to tell how the ongoing Russia-Ukraine conflict will affect Vietnam's banking sector, said industry experts.

With an overall brand value growth of 49 percent, Vietnam’s banking sector is one of the fastest growing in the world, according to Brand Finance’s latest report on the most valuable and strongest banking brands globally.

The banking sector plays the key role in maintaining the macro-economic stability and other major balances of the economy, stated Prime Minister Pham Minh Chinh at a New Year meeting with leaders and staff of the State Bank of Vietnam (SBV) on February 8.

Vietnam’s recovery is set to gather momentum in 2022, as domestic demand rebounds and export performance remains strong, according to Fitch Ratings.

This year, the banking sector will focus on providing maximum support for enterprises to resume production while pouring cash flow into priority fields in line with the Government’s direction, Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV) has said.

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.

Faced with complicated developments of the COVID-19 outbreak in recent times, banks in Ho Chi Minh City and elsewhere in the country are strictly complying with social distancing regulations while also ensuring their systems operate smoothly and efficiently and fully meet the needs of individual and corporate customers.

The banking sector will provide enough credit to businesses at supportive interest rates this quarter to help revive them, according to the State Bank of Vietnam’s Ho Chi Minh City branch.

Sacombank has won two awards, the ‘Vietnam Domestic Trade Finance Bank of the Year’ and ‘Vietnam Domestic Technology and Operations Bank of the Year,’ from The Asian Banking and Finance magazine.

The Government has issued a resolution to create a sandbox for financial technology (fintech) in the country’s banking sector.

As the market is witnessing adjustments in the rate of ownership for foreign investors in banks, analysts say that it depends on the strategy and business plan of each bank from time to time.

Cambodia's banking industry enjoyed strong growth in both loans and deposits in the first half of 2021 despite the COVID-19 pandemic, according to the National Bank of Cambodia (NBC), the country's central bank.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) again tops the list of ten most prestigious commercial banks in Vietnam this year, according to the latest ranking announced by Vietnam Report.

Many banks have reported high profit in the first half of 2021 despite impacts of COVID-19 pandemic.

The State Bank of Vietnam (SBV) has flexibly operated monetary policy tools to maintain liquidity for the banking system, contributing to stabilising and recovering credit growth in the context of unpredictable impacts of the COVID-19 pandemic.

The Ministry of Health received financial assistance of 160 billion VND (over 6.9 million USD) from the banking sector and 4 million doses of COVID-19 vaccines from Vingroup at a ceremony on May 21.