Vietnam's interbank e-payment system handled 37 million transactions worth nearly 21 quadrillion VND (898.4 billion USD) in the first quarter of the year, up 23 percent and 17.8 percent respectively compared to 2018, according to the State Bank of Vietnam (SBV).
The Vietnam Asset Management Company (VAMC) plans to handle some 50 trillion VND (2.14 billion USD) worth of bad debts in 2019, and issue special bonds to purchase 20 trillion VND (856 million USD) of non-performing loans.
It is critical to improve the resilience of the Vietnamese economy to withstand and recover from external shocks, experts told a conference in Hanoi on May 15.
The capital adequacy ratio (CAR) of Vietnam's credit institutions has improved thanks to their increased equity.
The State Bank of Vietnam (SBV) bought 8.35 billion USD from credit institutions between the beginning of this year and April 17 to build up the nation’s foreign reserve.
Prime Minister Nguyen Xuan Phuc has recently issued Directive No.11/CT-TTg on several solutions to promoting stable and transparent development of the property market.
Some commercial banks expect to get high credit growth limits set by the central bank this year as they have so far met Basel II’s capital safety and risk management standards ahead of schedule.
Credit packages with preferential interest rates offered to small and medium enterprises (SMEs) in Ho Chi Minh City contributed largely to the city’s economic growth of 8.3 percent in 2018, heard a conference held in the city on April 18.
The State Bank of Vietnam (SBV) has asked for the control over real estate loans by credit institutions to be enhanced, especially in areas showing signs of land price fever.
Deputy Prime Minister Vuong Dinh Hue has asked agencies to enhance linkages between cities and provinces nationwide and other countries to form a global network for the OCOP programme.
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.
The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Vietnam (SAV).
The banking system and operations of credit institutions are crucial to the nation's economy, according to an official.
The Government has requested ministries, departments and localities to push ahead with economic restructuring towards efficiency and science-technology innovation in 2019.
Credit institutions in Vietnam settled more than 204.4 trillion VND (8.77 billion USD) of non-performing loans (NPLs) by the end of the first quarter this year, said Nguyen Thi Hong, Deputy Governor of the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV) will launch more effective credit programmes to support agricultural production and improve local livelihoods, making contributions to boosting economic growth while wiping out black credit in rural areas.
The State Bank of Vietnam (SBV) is drafting a new circular regulating credit institutions’ trading and handling of non-performing loans (NPL) with the aim of forcing the institutions to focus more on bad debt settlement.
Poorly-performing State-owned people’s credit funds – a type of credit institution focusing on people in rural areas to help them escape poverty and avoid dependence on loan sharks – will be merged, acquired or dissolved to ensure the safety of the country’s finance and banking system.
