SBV claims bad debts are falling

Bad debt has decreased by 36 trillion VND (1.7 billion USD) thanks to the efforts of debt restructuring, debt payment delay and quittance, according to the State Bank of Vietnam (SBV).
Banks given higher credit growth targets Business

Banks given higher credit growth targets

The State Bank of Vietnam has increased this year's credit-growth targets for a number of commercial banks, hoping to spur lending to struggling enterprises dealing with high inventories and sluggish markets.

Foreign banks asked to clarify credit plans

The State Bank of Vietnam on July 23 issued a document to request foreign credit institutions and banks in Vietnam to send reports on their credit products and programmes to the central bank before August 2.

Banks to help only most-deserving firms

Commercial banks won't be able to save all of their struggling borrowers at any cost, the State Bank of Vietnam Governor Nguyen Van Binh said at a dialogue on July 20 among Hanoi 's authorities and representatives of about 100 enterprises.

Banks ordered to cut interest on old loans

State Bank of Vietnam Governor Nguyen Van Binh has asked commercial banks to refinance outstanding loans at lower interest rates in a bid to help businesses facing difficulties.

Addressing a meeting on July 7, Binh said lenders will be expected to offer borrowers better rates effective July 15. Therefore, bankers this week needs to identify new rates and immediately inform their networks to begin implementing the adjusted rates.


Economy shows signs of stability

Vietnam's economy is showing signs of stable development in the face of difficulties caused by the global economic crisis, director of the Ministry of Planning and Investment's General Statistics Office Do Thuc has said.

Measures aim to restrict bad debt

Credit institutions, including foreign bank branches, which have high bad debts or violate the regulations on capital contributions or share purchases from other ventures, will have their credit growth restricted, according to a circular from the State Bank of Vietnam.

Profit-taking hits city stocks

Shares on the HCM Stock Exchange plunged for a second day on Nov. 1, with the VN-Index losing another 1.66 percent to close at 413.82 points.

Low interest rates boost dollar loans

US dollar deposits at HCM City-based banks rose only 3.3 percent in the first seven months of the year, according to the State Bank of Viet Nam's figures, while lending in dollars surged by about 19.2 percent during the same period, stirring concerns over dollar liquidity in the banking system.

Banks target higher second-half earnings

Local commercial banks are hoping to earn higher profits in the next two quarters of the year so that they can meet their annual pretax targets, but current market conditions make this a difficult task.