Vietnamplus

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has said the liquidity of the whole banking system has remained good.

Nearly 6.4 million poor and near-poor households had access to loans from the Vietnam Bank for Social Policies (VBSP) as of December 31, 2021.

The State Bank of Vietnam (SBV) has to continually inject money to support the liquidity of the banking system as the capital demand and interest rates on the interbank market have remained high though the Tet (Lunar New Year) holiday has ended.

The competition to gain a larger share in the consumer finance market is heating up as rising capital demand before Tet (Lunar New Year) is an opportunity for both banks and finance companies.

Removing bottlenecks of businesses will be prioritised in the northern province of Bac Giang to lure more foreign direct investments (FDI) in the coming time.

The banking sector pledged to meet the capital demand for production and business, especially in five prioritised sectors, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said at a conference connecting enterprises and banks in Hanoi on April 16.

Credit growth in the next three to five years is forecast to be around 14 percent per year, lower than the average rate of 18.1 percent in the 2015-17 period.

Profits of many commercial banks this year will hit the highest levels since 2012 thanks to rising capital demand, experts have forecast. ​

Adoption of appropriate policies by the State Bank of Vietnam (SBV) has helped it buy a large amount of US dollar to increase the nation’s foreign reserves, industry insiders said.

Credits provided by banks have generally met the capital demand of businesses, cooperatives and farm households to produce, sell, process and export coffee.