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 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.
The banking industry sharply reduced outstanding loans for real estate business in the first half of 2021 and will continue such limits in the second half.
Banks will continue to tighten lending in risky sectors including securities, real estate, financial, and tourism business, seeing higher credit risks in the remaining months of this year, a survey carried out by the Monetary Forecasting and Statistics Department has said.
The Mekong Delta province of Tra Vinh has to date disbursed more than 145 billion VND (6.32 million USD) for pandemic-hit residents, announced the provincial People’s Committee.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) proposed raising its charter capital to over 50 trillion VND (2.17 billion USD) during its annual shareholders’ meeting on April 23.
Though Vietnam’s outstanding consumer credit almost tripled over the last decade, its share of total outstanding loans is yet to keep pace with that of its regional nations. There is plenty room for improvement in the time to come, industry insiders have said.
Outstanding loans in Vietnam exceeded 8.79 quadrillion VND (378.74 billion USD) as of November 17, an increase of 7.26 percent from the end of 2019, according to the State Bank of Vietnam (SBV).
The State Bank of Vietnam is drafting amendments to a circular that restructures repayment periods, waives and reduces interest rates and fees and maintains debt classification to support people affected by the COVID-19 pandemic to ensure more receive the support.
Credit grew only 1.96 percent as of May 29 as compared with late 2019, due to the impact of the COVID-19 pandemic, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.
Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at 151 trillion VND (6.49 billion USD) by May 25, according to the State Bank of Vietnam.
The outstanding loans of 12 inefficient projects under the Ministry of Industry and Trade totalled nearly 21 trillion VND (892.7 million USD) as of the end of 2019, most were overdue, according to the Government’s report to the National Assembly.
Hanoi will earmark 650 billion VND (28.2 million USD), the first stage, in support of the poor and other social beneficiaries via the local branch of Vietnam Bank for Social Policies (VBSP), amid the COVID-19 pandemic.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu highly valued several banks’ interest rate cuts by an additional 2 percent annually to support businesses affected by the COVID-19 pandemic.
Credit institutions have so far supported more than 44,000 clients affected by the COVID-19 outbreak, and assistance will continue in the time ahead, heard a meeting between the State Bank of Vietnam (SBV) and those organisations in Hanoi on March 2.
The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed over 3 trillion VND (over 129.2 million USD) in pre-tax profit in 2019, representing a yearly increase of 47 percent.
Prime Minister Nguyen Xuan Phuc has approved a national financial inclusion strategy until 2025 with a vision to 2030, targeting at least 80 percent of adults in the country to have bank accounts by 2025.
The Southeast Asia Joint Stock Commercial Bank (SeABank) on January 8 announced a before-tax profit of more than 1.39 trillion VND (59.8 million USD) in 2019, jumping 123.4 percent from the previous year.
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