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.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,658 VND/USD on December 5, down 2 VND from the last working day of the previous week (December 2).
The International Finance Corporation (IFC), a member of the World Bank Group, has proposed a total investment of 320 million USD in three Vietnamese banks, reported the Nikkei Asia.
Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.
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.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,678 VND/USD on November 14, down 5 VND from the last working day of the previous week (November 11).
Credit of the banking system by the end of October this year rose by 11.5% compared to the end of 2021, Bao Viet Securities Company (BVSC) said, citing data from the State Bank of Vietnam (SBV).
The State Bank of Vietnam has raised caps on credit growth for some commercial banks so far this year, helping businesses obtain easier access to capital as they are putting forth post-pandemic recovery.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,695 VND/USD on October 31, up 2 VND from the last working day of previous week (October 28).
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