Vietnamplus

The State Bank of Vietnam (SBV) announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.

In recent days, many domestic banks have lowered both deposit and lending interest rates for short-term VND loans to support businesses in the year-end months.

Bond issuance is becoming an ideal channel for real estate firms to raise capital as credit policies for property development are gradually being tightened, experts said.

The banking sector reported a credit growth of 7.33 percent in the first half of this year compared to the end of 2018, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.

Credit packages with preferential interest rates offered to small and medium enterprises (SMEs) in Ho Chi Minh City contributed largely to the city’s economic growth of 8.3 percent in 2018, heard a conference held in the city on April 18. ​

The State Bank of Vietnam (SBV) has set its sights on 17 percent credit growth this year, slightly down from 18.17 percent last year.

Governor of the State Bank of Vietnam Le Minh Hung on November 17 continued taking part in lawmakers’ question-and-answer session, making clear issues relating to the baking system’s issues, including credit growth, debt rescheduling for storm victims, and credit institution restructuring.

The Government has called for faster than targeted credit growth in pursuit of this year’s GDP goal of 6.7 percent.

Bank for Foreign Trade of Vietnam (Vietcombank) on October 24 secured approval to sell non-convertible bonds worth 2 trillion VND (89.3 million USD) at par value.