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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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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.
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SBV orders debt relief and lending support following Typhoon Yagi
The State Bank of Vietnam (SBV) has instructed credit institutions to consider offering interest rate reductions, debt restructuring, and new lending support for borrowers impacted by Typhoon Yagi.
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Workshop "Winning the digital payment race in the Banking and Finance industry"
On September 10, in Hanoi, the Vietnam Banks Association (VNBA) coordinated with BPC Vietnam Company to organize the workshop "Winning the digital payment race in the Banking and Finance sector" with the aim of contributing to promoting digital transformation in the Banking and Finance industry as well as encouraging cooperation, creating a tight, effective and sustainable digital banking and digital payment ecosystem in Vietnam.
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BAOVIET Bank ends Visa credit cards services, shifts to domestic cards
BAOVIET Bank has announced that it will cease offering its international Visa credit cards from September 15.
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State Bank of Vietnam offers fresh catalyst for growth
The State Bank of Vietnam’s efforts to lower interbank interest rates and increase credit limits for banks will provide additional momentum for growth, with economic recovery pace being crucial to sustaining credit demand.
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ADB again recognises HDBank as leading partner bank in Việt Nam, expands trade finance tie-up
The Hồ Chí Minh City Development Bank (HDBank -sticker: HDB) was once again honoured as the “Leading Partner Bank in Vietnam” by the Asian Development Bank at an award ceremony for the Trade and Supply Chain Finance Program in Singapore on September 3.
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Uneven credit growth registered in first eight months
Credit growth rebounded in August after July's slowdown, but it remained uneven, with Hanoi's rate nearly triple that of Ho Chi Minh City.
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SBV sticks to 0% rate to fight off the dollarisation
Measures implemented by the State Bank of Vietnam (SBV) to fight off the dollarisation of the economy, highlighted by the zero per cent interest rate for deposits made in US dollar, have produced positive effects in stabilising the exchange market, increasing foreign reserves, remittance flows and foreign investments, said economists and exchange market experts.
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Credit limit for large customers to be gradually reduced over next five years
Banks will have to gradually reduce the credit limit for large customers over the next five years to meet regulations under the new Law on Credit Institutions.
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Banks still counting profit from securities trading
Despite market volatilities, many banks still count healthy profits from securities trading.
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SBV adjusts credit growth targets and strengthens monetary policy management measures
Following the Resolutions of the National Assembly, the guidance of the Government and the Prime Minister, the State Bank of Vietnam (SBV) has managed the monetary policy in a proactive, flexible and effective manner, in collaboration with the fiscal policy and other macro-economic policies in order to control the inflation, contributing to maintaining the macro-economic stability, supporting the economic growth.
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Banks sharpen focus on scale-up of sustainability
Banks have demonstrated their determination to achieve sustainability in Vietnam by partnering with regional lenders and global investors, emphasising green finance and rigorous due diligence.
