Vietnam's banking sector sees greatest year-on-year brand value growth at 23%, according to Brand Finance Banking 500. Nine Vietnam banks in the list increase their global brand finance ranking.
The State Bank of Vietnam said it would be consistent with the goal of controlling inflation, maintaining macroeconomic stability, and improving the quality of monetary policy planning and administration.
The Vietnam Bank for Agriculture and Rural Development (Agribank) jumped 17 spots to rank 173rd in the recently announced Brand Finance Banking 500 list for 2021, which featured the most valuable and strongest banking brands in the world.
Minister of Natural Resources and Environment Tran Hong Ha on January 27 emphasised the importance of a circular economy while Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong noted the need to stay persistent in the target of keeping inflation under control and maintaining macro-economic stability.
The banking sector has set a goal of flexibly managing and coordinating monetary, macroeconomic, and fiscal policies to control the inflation rate to around 4 percent this year and serve economic recovery and growth.
The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.
Credit loans must be always available for production and business enterprises, especially those operating in such areas as agriculture, export and high-tech, Prime Minister Nguyen Xuan Phuc said on December 26.
The 8th patriotic emulation congress of the banking sector, for 2020-2025, took place in Hanoi on November 28 with the participation of National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan.
A ceremony for the Vietnam Outstanding Banking Awards 2020 was held by the Vietnam Banks Association and International Data Group Vietnam (IDG Vietnam) on November 26 in Ho Chi Minh City.
Vietnam’s equity market may witness big merger and acquisition (M&A) deals in 2021 as local banks are trying to lure foreign capital on the country’s participation in international trade deals.
Banks in Ho Chi Minh City are focusing on measures to mitigate the difficulties faced by businesses due to the COVID-19 pandemic and help them get back to health, a State Bank of Vietnam official has said.
Currently, the OCB OMNI system deals with about 50,000 transactions a day, including money transfer, receipt payment, and mobile service payment, three times higher than the figure recorded at late 2019.
The State Bank of Vietnam (SBV) sought to further cut interest rate in an effort to boost the country's economic recovery, said its Deputy Governor Nguyen Thi Hong in a press conference in Hanoi on September 22.
Promoting non-cash payment, digital banking, and green banking is the direction of the banking sector in the 2020-2025 tenure, State Bank Governor Le Minh Hung told a meeting in Hanoi on August 17.
Despite a worldwide economy hit hard by the COVID-19 pandemic, the banking sector has still enjoyed a good first half of the year and are on course to meet targets.
With average price-to-earnings (P/E) and price-to-book (P/B) ratios at a five-year low, bank stocks are among the good options available for investors right now, analysts said.
Credit institutions need to balance their capital to effectively invest in projects, which are now able to recover following the control of the COVID-19 pandemic, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
The banking sector will ensure adequate capital to keep the economy going, according to an official from the State Bank of Vietnam (SBV), amid the novel coronavirus disease (COVID-19) which is taking heavy toll on the economy.
Business
