Vietnamplus

Domestic banks will continue striving to ensure business performance and deliver on commitments to investors while supporting clients amid difficulties this year.

The National Payment Corporation of Vietnam (Napas) and seven domestic banks recently launched domestic credit chip cards with unified standards to promote cashless payments and tackle black credit.

Domestic banks are expected to face increasing competition, especially as European banks will be able to access the Vietnamese market when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.

Domestic banks are in a position to complete their 2019 profit targets if they finish the year on a high.

Domestic banks forecast that the lending interest rates would drop in line with the government’s policy to support production and business activities of enterprises.

Domestic banks have recently been warning their customers about new online scams.

The Government should help Vietnamese banks lure capital and experience from prestigious foreign banks so as to help local firms develop sustainably, experts said.

The number of non-performing loans (NPLs) at many banks has decreased dramatically in the past few months, with some even posting a decline of more than half.

Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year.

Interest rates for VND loans have increased in the past two months after holding steady in the first half of the year.

Healthy domestic banks should focus on improving the transparency in their audited financial statements to attract foreign investors as some banks have recently succeeded with the strategy, experts suggested.

Amidst the fourth industrial revolution, domestic banks have actively invested in technologies to improve their products, services and governance, Vice Governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh told a seminar in Hanoi on June 15.

After years of receiving low dividend payout rate by banks, shareholders of many banks are now happy with the high rates announced at this year’s annual general meetings (AGMs) of shareholders.

Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.

Moody’s Investors Service on September 5 placed on review for upgrade the long-term credit ratings of seven Vietnamese banks.

Credit ratings agency Moody’s has recently ranked the Vietnam Joint Stock Commercial Bank for Industry and Trade the first among nine rated Vietnamese banks in terms of financial strength.