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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.

Credit institutions warn of a continuous increase in credit risks in the first half of 2022, according to a survey on credit trends by the State Bank of Vietnam’s Forecast and Statistics Department.

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).

The State Bank of Vietnam (SBV)’s expansion of credit growth quotas for commercial banks has created favourable conditions for lenders to boost lending, contributing to supporting capital sources for individuals and firms to recover after the COVID-19 pandemic.

As the corporate bond market has shown signs of fast growth, this capital mobilisation channel will be closely inspected and controlled this year.

Banks’ pre-tax profits this year will remain relatively positive but are yet to be sustainable as banks haven’t set up contingency reserves for restructured debts.

Credit growth has reached 12.97 percent so far and is likely to hit 14 percent this year, Standing Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said in a press conference on the SBV's governance of monetary policies and banking operation on December 28.

Permanent Vice Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has stated that green credit is an important financial source of the economy.

A credit contract to provide 95 million USD for the restructuring of Dak Drinh hydro power plant was signed in Hanoi on December 14.

Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) has extended the credit growth limits for the third time this year to some commercial banks to meet rising capital demands at year-end.

One of the most important hurdles to restoring the economy after the COVID-19 pandemic is further investment in social housing development, especially for workers in industrial zones, according to the Ministry of Construction (MoC).

The California Governor's Office of Business and Economic Development (GO-Biz) has granted VinFast 20.5 million USD worth of tax credit, the Vietnamese automobile manufacturer said on November 5.

Vietnam needs an estimated 220 trillion VND (9.6 billion USD) to build about 294,600 units of social housing for low-income earners in urban areas and industrial parks in the 2021-2025 period, according to the Ministry of Construction.

Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that favourable conditions will be created to facilitate businesses’ access to loans, but credit quality still needs to be guaranteed and bad debt needs to be controlled in the short, medium, and long terms.

The Ministry of Construction has proposed a 30 trillion VND (1.3 billion USD) credit package to build low-cost homes for workers.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has unveiled an online preferential credit package of 5 trillion VND (220 million USD) with an interest rate of only 4.99 percent.

By the end of the third quarter, the credit of the Foreign Trade Joint-stock Bank (Vietcombank) was 923,385 billion VND (40.550 million USD), an increase of 11.5 percent over the whole of 2020 and representing 98 percent of this year’s plan, according to the lender.

Vietnam and Japan signed a Memorandum of Understanding (MoU) on Joint Credit Mechanism - JCM at a ceremony held in both virtual and in-person forms on October 14.

Despite impacts of the COVID-19 pandemic, credit growth continued to expand in the first nine months of this year thanks to comprehensive and effective solutions, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.