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.
Credit growth had stood at about 8.18 percent as of August 15, 2018 and is expected to be curbed at around 17 percent this year, said Minister-Chairman of the Government Office Mai Tien Dung.
Many commercial banks have recently increased deposit interest rates, but experts forecast that the rise will last only a short time and won’t have a domino effect on lending rates.
The Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) has revised down many business targets for 2018, citing different reasons for this decision.
Vietnamese shares fell on August 9 as strong selling pressure weighed down large-cap stocks and listed firms suffered from negative news of the macro-economy.
The profitability of Vietnamese banks is strengthening as robust economic growth fuels credit demand and supports an improvement in asset quality, but challenges are also apparent, Moody’s Investors Service said in a recent report.
Many banks have reported impressive profit growth in the first half of 2018, compared to the same period last year, thanks to the high credit growth and the improvement from the retail banking segment.
Vietnam’s economy maintained impressive growth in the second quarter this year, according to a macroeconomic report released by the Vietnam Institute for Economic and Policy Research (VEPR) in Hanoi on July 11.
Deputy Prime Minister Vuong Dinh Hue has asked the State Bank of Vietnam to actively and proactively direct monetary policy; closely combine with fiscal and macro-policies to control inflation; and prevent double inflation caused by higher foreign exchange rates and global fuel prices.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted over 7.72 trillion VND (336.2 million USD) in pre-tax profit in the first half of 2018, up 52.7 percent year on year.
The banking sector is optimistic about its growth prospect in 2018 as all of surveyed banks expect the growth rate to be more than 10 percent.
Experts have warned enterprises to be more cautious with their US dollar loans amidst a significant rise in the lending and appreciation of the greenback.
Vietnam’s economy is forecast to continue improving, with gross domestic product (GDP) to expand by 6.8 percent this year, said the World Bank (WB) in its latest economic update for Vietnam.
Vietnam's economy is forecasted to expand by 6.8 percent in 2018, 6.6 percent in 2019 and 6.5 percent in 2020, according to the World Bank (WB)’s Global Economic Prospects.
Vietnam’s gross domestic product (GDP) is expected to grow 6.6 percent in 2018, down slightly from 6.8 percent last year.
The State Bank of Vietnam should consider developing a roadmap to remove regulations on credit growth limits and interest rate caps as it isn’t suitable due to the country’s achievements in stabilising the nation’s economy, according to experts.
