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.
Many banks have reported good business performance in the first nine months of the year thanks to decreasing provision costs and rising income from services.
Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year.
Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year.
Authorities need to closely control the rapid increase in Vietnam’s credit-to-GDP gap so as not to cause high inflation as in the past, experts have warned.
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.
Consumer finance companies have been cutting credit growth to focus more on tightening internal governance and selecting solvent customers to target a safer and healthier development.
The State Bank of Vietnam (SBV) will likely continue its tightened monetary policy in the remaining months of the year after its decision to strictly control lending to high risk sectors in the third quarter didn’t adversely affect the country’s economic growth, according to experts.
Vietnam’s socio-economic situation has improved, with good results in all fields, Deputy Prime Minister Vuong Dinh Hue said.
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.
Property developers are looking to other channels to raise capitals, such as bond issuance, as credit policies for property development are gradually being tightened.
The GDP growth rate for the January-September period was 6.98 percent, the highest for the same period over the past eight years, the General Statistics Office announced on September 28.
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.
The Vietnamese economy continued its strong performance in the first half of 2018, although external and domestic challenges could affect the country’s growth outlook for this year and next year, the Asian Development Bank (ADB) said in a new report.
Economic restructuring should be channelled more specifically to realise the socio-economic targets set by the National Assembly, not only for 2018 but also for the following years, said Minister of Planning and Investment Nguyen Chi Dung.
The Philippines' outstanding external debt stood at 72.2 billion USD by the end of June 2018, down by 997 million USD or 1.4 percent from the end of March 2018, the country’s central bank has announced.
How to ensure financial sustainability and long-term financial services for the poor at the same time remains a headache for both policy makers and financial service suppliers.
Credit growth in the first eight months of this year rose by 8.18 percent over the end of last year, the lowest level since 2015, a report from the Ministry of Planning and Investment showed.
