Vietnamplus

Credit institutions and foreign bank branches are now allowed to restructure the repayment terms to support clients struggling with production and business expenses.

Having hold of a large amount of bad debts mortgaged by real estate, Vietnam’s four biggest State-owned banks are urgently recovering the debts, but the work remains tough for them due to the slowdown of the realty market.

Some 485,000 poor and near-poor households gained access to loans from the Vietnam Bank for Social Policies (VBSP), worth about 21.86 trillion VND (932.17 million USD) in total, in the first three months of this year.

The Asian Development Bank (ADB) has agreed on loans for important projects in the Mekong Delta city of Can Tho.

Deputy Prime Minister Tran Luu Quang has signed a dispatch on the cancellation of World Bank (WB) loans due to the unusability, and the re-allocation and use of the cancelled International Development Association (IDA) loans in the 2022 - 2023 fiscal year.

Home Credit on March 8 officially launched the project “Home for Life” to offer free-interest loans to women in remote areas in the northern mountainous province of Yen Bai.

Affordable home buyers can access preferential loans at rates 1.5-2 percentage points lower than the market average as part of a credit package worth around 120 trillion VND (5.02 billion USD).

Fintech company ATM Online has officially launched its ATM Online app that offers customers online installment-loans.

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

The Mekong Delta province of Long An has taken effective measures to eradicate poverty.

Both foreign and domestic fintech firms are promoting connections with commercial banks to lend unsecured loans to individuals, and small and micro enterprises as demand for consumer and business loans at the end of the year is rising.

While normally a positive time for car sales, this year the domestic automobile market is seeing gloomy days as Tet approaches, according to local car experts.

The interest rate for social housing loans will be lifted to 5% per annum from the current 4.8% per annum from the beginning of next year, following a decision by the State Bank of Vietnam.

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

The International Finance Corporation (IFC) has completed the disbursement of a loan worth nearly 3.7 trillion VND (150 million USD) to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to promote projects which would create sustainable value for the business community and the economy.

The Thai government approved a low-interest loan project to improve liquidity for aquatic enterprises (phase II), with a credit limit of 5 billion baht (about 130 million USD), on November 1.

The Ministry of Transport (MoT) has just sent a document to the Ministry of Planning and Investment (MPI) on the allocation of over 7 trillion VND (287.3 million USD) worth of medium-term foreign capital in the 2021-2025 period for the Hanoi - Hai Phong expressway project.

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 Vietnam Bank for Social Policies (VBSP)’s Ninh Binh Branch has provided more than 9.84 trillion VND (415.63 million USD) in soft loans for around 547,870 poor households and other policy beneficiaries in the northern province over the last two decades.

The southernmost province of Ca Mau is supporting seafood enterprises to make good use of the UK-Vietnam Free Trade Agreement (UKVFTA) to foster exports to the UK in the near future, the provincial Department of Industry and Trade said.