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

Credit growth in the first months of this year slowed significantly due to high interest rates and firms’ poor health, raising concerns about rising bad debts.

Minister of Finance Ho Duc Phoc has said the finance-banking sector accomplished its set goals for 2022, with State budget collection surpassing the estimate by nearly 20% amid unfavourable changes in the country and the world.

After hitting a record low in 2022, Vietnam’s money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market, KB Securities Vietnam (KBSV) forecast.

Amid rising non-performing loans (NPLs), many banks have strongly increased their loan-loss reserve (LLR) funds to readily face uncertainties in the future.

Besides interest and exchange rates, non-performing loans (NPLs) are also a concern for banking activities in the remaining months of 2022, experts have warned.

The Philippines will use over 11% of the proposed national budget for 2023 to repay its debts, the Department of Finance said on August 25.

Banks are forecast to have a credit expansion at the end of the third quarter of 2022, according to Saigon Securities Incorporation.

National Assembly (NA) deputies on June 1 discussed the implementation of the socio-economic development plans and the state budget in 2021 and in the first months of 2022 as well as the settlement of bad debts of credits institutions.

Ensuring flexibility in curbing rising petrol prices and settling bad debts of credit institutions were scrutinised by National Assembly deputies on June 1 at a debate on the implementation of socio-economic development plans and the state budget in 2021 and in the first months of 2022 during the legislature's ongoing third session.

Members of the National Assembly (NA)'s Standing Committee offered their opinions on a Government report on the implementation of thrift practice and wastefulness prevention in 2021.

Deputy Prime Minister Le Minh Khai has signed a decision approving the public debt strategy until 2030, which sets a target of keeping it at under 60 percent of the GDP and Government debts not exceeding 50 percent of the GDP in 2030.

The 10th session of the Standing Committee of the 15th National Assembly (NA) opened in Hanoi on April 14.

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.

Many banks have set high profit ambitions for this year due to rising credit demand and the grand march of continued economic recovery.

The State Bank of Vietnam (SBV) has proposed to continually handle bad debts of credit institutions based on the provisions of pilot Resolution 42/2017/QH14 until 2025 instead of this year.

Credit growth of the Vietnam Bank for Social Policies (VBSP)'s branch in the northern province of Bac Giang is expected to be between 7-10 percent in 2022, according to Vice Chairman of the provincial People’s Committee and head of the representative board of the branch's board of directors Phan The Tuan.

Though enterprises and individuals need the Government’s large economic recovery packages to rebound from the pandemic, the Government should consider limiting the participation of commercial banks in the packages to help them avoid bad debt risks, experts suggest.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has issued Directive No.01/CT-NHNN on organising the implementation of the key tasks of the banking sector, with a focus on improving credit quality and tightly controlling loans to potentially risky industries.

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.