Banks post high profits in 2018 Business

Banks post high profits in 2018

Despite the central bank’s tightened monetary policy, many banks reported good business performance last year thanks to improved bad debt resolution and rising income from services.
Vietnam to have first domestic chip cards in Q1 2019 Business

Vietnam to have first domestic chip cards in Q1 2019

Vietnam’s first domestic chip cards will be launched in the first quarter of 2019 to enhance safety and service quality of the country’s bank card operations, according to the National Payment Corporation of Vietnam (NAPAS).
Forex lending to continue next year Business

Forex lending to continue next year

The State Bank of Vietnam (SBV) is drafting a new circular on foreign currency lending, allowing credit institutions and foreign bank branches to extend loans to some borrowers in 2019 instead of cutting them off at the end of this year as planned.
ASEAN makes great technological achievements: WEF President ASEAN

ASEAN makes great technological achievements: WEF President

President of the World Economic Forum (WEF) Børge Brende has highlighted ASEAN’s recent technological achievements in an interview given to Vietnam News on the occasion of the WEF on ASEAN 2018 taking place in Hanoi on September 11-13.
Detailed guidance needed to tackle bad debt: experts Business

Detailed guidance needed to tackle bad debt: experts

Settling non-performing loans (NPLs) has been easier since the application of Nation Assembly’s Resolution 42 a year ago, but detailed guidance is still needed to make the use of the regulation smoother, industry insiders said.
Vietnam strives to reduce cash payment proportion Business

Vietnam strives to reduce cash payment proportion

The Vietnamese Government plans to reduce the cash payment proportion to less than 10 percent by 2020 and 8 percent by 2025, which can be done by expanding the network of automatic teller machines (ATMs) and points of sale (POS) nationwide.
Domestic banks adapt to fourth industrial revolution Business

Domestic banks adapt to fourth industrial revolution

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.
Vietnam needs more ADB funding for private sector Business

Vietnam needs more ADB funding for private sector

Deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks to Vietnam News Agency's English-language newspaper Viet Nam News about these issues on the sideline of the recent ADB 51st Annual Meeting in Manila, the Philippines
Company reports must meet world standards Business

Company reports must meet world standards

Credit-risk management should be enhanced to make sure business information was transparent and reliable to improve Vietnam’s trade, economic and investment conditions, according to Nguyen Quang Thuan, CEO from data analysis firm StoxPlus.
Future bright for local banks Business

Future bright for local banks

Business performance of commercial banks is forecast to continue its upward trend in 2018 after making significant improvements last year, according to a State Bank of Vietnam (SBV) survey.
Pay back taxes, court tells Uber Business

Pay back taxes, court tells Uber

The HCM City People’s Court has dismissed a suit by the ride-hailing company Uber International Services Holding B.V against the city tax department seeking remedy against a claim for back taxes.