Vietnamplus

Prime Minister Pham Minh Chinh has issued Decision 213/QD-TTg to establish a steering committee for restructuring the system of credit institutions.

The State Bank of Vietnam (SBV) is collecting comments on its draft circular to minimise potential risks for non-banking credit institutions and ensure they work in accordance with international standards.

Foreign ownership limits at credit institutions were expected to be raised to an appropriate level to attract foreign investment, which plays an important role in improving operational efficiency and accelerating the banking sector's restructuring.

Nearly 60 percent of credit institutions forecast their business performance results to improve in Q2 after estimating those in Q1 to be not as good as expected, the latest survey by the State Bank of Vietnam (SBV) showed.

The JSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performing credit institution and the largest contributor to the State budget among the listed ones in 2021.

A majority of credit institutions are optimistic about their business performance in 2022, according to the latest survey by the State Bank of Vietnam (SBV).

Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20.

The State Bank of Vietnam has asked credit institutions to prepare capital sources to meet borrowing demand and provide support to customers who have been affected by the coronavirus epidemic.

Though Tet (Lunar New Year) is approaching with rising capital demands, the liquidity of the banking system is abundant, helping interest rates in the inter-bank market drop sharply, industry insiders said.

The Government has proposed naming the State-owned Airports Corporation of Vietnam (ACV) as the main investor for the first phase of Long Thanh International Airport in the southern province of Dong Nai.

Most domestic credit institutions and foreign banks’ branches in Vietnam expect their business performance in 2019 to be better than last year despite the predicted slowdown in credit growth, according to the State Bank of Vietnam's latest survey released late last week.

The State Bank of Vietnam (SBV) must take action to ensure 90 percent of the Vietnamese population over the age of 15 have bank accounts by 2030.

The country net purchased over 6 billion USD in 2018 to raise its foreign exchange reserves, the State Bank of Vietnam (SBV) reported at a meeting in Hanoi on January 9 to launch tasks for the banking sector this year.

The total assets held by Vietnam’s credit institutions reached more than 10.3 quadrillion VND (447.8 billion USD) by the end of May, an increase of 3.27 percent over the beginning of this year, the latest report from the State Bank of Vietnam (SBV) showed.

Up to 75 percent of credit institutions expected better results in the second quarter of this year, while 84 percent hoped their business performance throughout 2018 to improve further compared to 2017.

Governor of the State Bank of Vietnam Le Minh Hung on November 17 continued taking part in lawmakers’ question-and-answer session, making clear issues relating to the baking system’s issues, including credit growth, debt rescheduling for storm victims, and credit institution restructuring.

Cross-ownership in Vietnamese banks will be controlled with stringent new regulations.

The Prime Minister has issued Decision 1058/QD-TTg approving a project on restructuring the system of credit institutions in combination with settling bad debt for the 2016-2020 period.

Vietnam posted a credit growth rate of 9.06 percent as of June 30 compared to the end of last year, which did not pressure interest rates, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said on July 21.

Some commercial banks have announced their lending rate cuts as from July 10in implementing the State Bank of Vietnam’s decision on reducing maximum short-term interest rate for loans in VND provided