Credit ratings agency Fitch Ratings has assigned the PetroVietnam Power Corporation (PV Power) a Long-Term Foreign-Currency Issuer Default Rating (IDR) of “BB” with a positive outlook for the second consecutive year.
Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.
Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB+” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance.
The story of sustainable poverty reduction and the economic development gap between the Central and Central Highlands and regions across the country is a challenge that requires a comprehensive policy, breakthrough solutions and the provision of adequate resources as planned.
Though credit demand is recovering quickly, banks still have to face big challenges related to rising bad debts, provisions and deposit interest rates.
The Ho Chi Minh City branch of the State Bank of Vietnam has asked credit institutions to tighten the management on credit flow into the real estate sector and the transfer of money collected from real estate transactions abroad.
A consultation workshop was co-held by the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE) and the German Agency for International Cooperation (GIZ) in Vietnam to discuss environmental criteria for projects granted with green credit or issuing green bonds.
Moody's announced it would raise the baseline credit assessment (BCA) from B2 to B1 for Southeast Asia Commercial JS Bank (SeABank) in the 2022 rating review period.
The State Bank of Vietnam (SBV)’s decision to tighten control over real estate credit has helped to restrict speculation while making the market transparent and preventing a real state bubble, economic experts have said.
Deputy Prime Minister Le Minh Khai has approved the sovereign credit rating improvement project by 2030, part of an effort to make Vietnam a developing and upper-middle-income country with modern industry, heightening the country’s international reputation and reducing credit risks.
President Nguyen Xuan Phuc hosted a reception for Chairman and CEO of Korea Credit Guarantee Fund Yoon Dae-hee in Hanoi on April 14, during which the president suggested that the fund assist Vietnamese businesses to join global supply chains.
The scale of capital mobilisation through corporate bonds is forecast to decrease sharply, but there will be a drastic change in quality, according to a study on the corporate bond market by FiinRatings.
Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Vietnam (SBV)'s policy on controlling credit growth in risky areas.
Credit growth of credit institutions was quite positive at 5.04 percent at the end of the first quarter of this year, much higher than the 2.16 percent rise in the same period last year, the State Bank of Vietnam (SBV)’s Deputy Governor Dao Minh Tu said at the Government’s regular press conference in March.
A circular stipulating independent audits of credit institutions and foreign bank branches issued by the State Bank of Vietnam will take effect from April 15.
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.
Ho Chi Minh City’s credit growth has rebounded, growing by 3.65 percent as of the end of March, up 13.1 percent year-on-year, according to the State Bank of Vietnam’s HCM City branch.
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