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MUFG Bank Vietnam and Zeroboard forge partnership in support of decarbonisation management
On September 17, 2024, MUFG Bank Vietnam entered an MoU with Zeroboard Inc., a Japanese tech startup that helps companies calculate and visualise their greenhouse gas emissions across operations and supply chains.
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VNBA receives comments and completes draft of International Money Transfer Rules
On September 18, 2024, the Vietnam Banks Association (VNBA) held a meeting of the Working Group to develop a Code of Conduct and unified practices on the list of documents and document verification for overseas remittance transactions of residents who are Vietnamese citizens (Code of Conduct). The purpose is to discuss and reach agreement on some issues that are still stuck in the process of drafting the Code of Conduct and to receive comments to complete the draft for promulgation.
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Urgently implement measures to support people and enterprises affected by Typhoon Yagi
On September 18, 2024, in Hanoi, Deputy Governor Dao Minh Tu of the State Bank of Vietnam (SBV) chaired a meeting with the credit institutions to discuss and agree on the urgent implementation of measures to support the people and enterprises affected by Typhoon Yagi (also referred to as Typhoon 3 of 2024).
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Core inflation in eight months of 2024 increases by 2.71%
According to the General Statistics Office of Vietnam (GSO), the consumer price indices of the commodities and services in August 2024 experienced both ups and downs, in which the price indices of the groups of food and foodstuff, rental housing increased as compared to those of July 2024, while the domestic fuel prices decreased in line with the declining international oil prices. In general, the consumer price index (CPI) in August 2024 was stable as compared to that of the previous month.
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Banks discuss measures to support typhoon-affected customers
Figures from credit institutions and branches of foreign banks in affected localities as of Tuesday, showed that around 73,000 customers were affected with a total outstanding loan of VND94 trillion.
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Banks required to list suspect accounts for better supervision
Commercial banks must provide information on accounts that show possible signs of fraud, swindling, or law violations at the State Bank of Vietnam (SBV) 's request every month.
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VAMC to auction bad debts starting at nearly $10 mln
VAMC has purchased the bad debts of Sacombank related to Phúc An Khang International Hospital and Bình Dương Construction Stone.
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Banks set to stimulate credit growth in last quarter
Banks are developing favourable credit schemes for the manufacturing and business sectors, while relaxing lending standards across all customer groups and the majority of loan sectors in the last quarter of the year.
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Banks reduce interest rates, offer new loans for customers affected by Typhoon Yagi
Several private and State-owned banks have reduced interest rates and offered debt relief for customers affected by Typhoon Yagi.
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Banks ramp up sale of real estate collateral to recover bad debts
Many banks have recently rushed to put up real estate collateral for sale to recover bad debts, but they are finding it difficult to sell the assets despite reducing prices.
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New policy stipulates special lending cases for credit institutions
Credit institutions will receive special loans from the State Bank of Vietnam (SBV) to pay depositors in case they face mass withdrawals, according to a new SBV regulation.
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Lenders seek regulations to disburse green finance
Many banks are increasing their focus on implementing green finance packages, but unlocking these promising capital sources still requires suitable mechanisms.
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Banking Innovation in the Digital Age
On September 11 and 12, in Ho Chi Minh City, the ENGAGE Asia 2024 conference took place, gathering more than 180 leading bank leaders, managers and technology experts. The event focused on the topic of "Innovating the banking industry in the digital age", aiming to find solutions to promote digital transformation and innovation in the Vietnamese banking industry.
