News
Foreign ownership at acquirers of weak banks to rise to 49%
The new decree also regulates that the total share ownership of foreign investors at a Vietnamese non-bank credit institution will also not be allowed to exceed 50 per cent of the institution’s charter capital.
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SBV requests banks to proactively supply credit for rice production, processing, and export in Mekong Delta
Implementing the direction of the Prime Minister on the management to ensure the balance of rice supply and demand amid global and domestic market developments, and to promptly meet the credit needs for the production, processing, temporary storage and export of rice, especially for the purchase of commercial rice in the 2025 Winter-Spring crop in the Mekong Delta provinces, the State Bank of Vietnam (SBV) has requested the SBV branches No. 13, 14, and 15 to implement a number of key tasks.
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Banks adjust to balance and cut costs
With simultaneous interest rate cuts and accelerated credit disbursement, banks are fuelling Vietnam’s economic breakthrough, driving towards the ambitious targets of 8 per cent GDP growth and 16 per cent credit expansion this year.
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Deputy Governor Pham Tien Dzung meets Senior Executive Vice President of ICBC
On February 28th, 2025, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung had a meeting with Mr. Zhang Wei Wu, Senior Executive Vice President of the Industrial and Commercial Bank of China (ICBC). Also attending the meeting, one the SBV’s side, there were representatives of the International Cooperation Department, the Payment Department, and the National Payment Corporation of Vietnam (NAPAS).
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Measures to reduce lending interest rates to promote economic growth
On the afternoon of March 5, 2025, in Hanoi, the Government Office held a regular Government press conference for February 2025.
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Commercial banks upbeat about achieving high profits in 2025
Vietnamese commercial banks are optimistic about their 2025 profit targets, with many expecting increases of 20 per cent to 30 per cent due to anticipated robust economic growth and a resurgence in credit activity.
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Banks pledge to support growth goals
Banks are committed to supporting the government’s directives by proposing solutions for a stronger banking system and lowering lending rates, helping the economy achieve over 8 per cent growth this year.
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Administrative procedures’ control and reforms of business regulations
On January 22, 2025, the State Bank of Vietnam (SBV) issued Decision No. 147/QD-NHNN on the SBV’s Implementation Plan for the administrative procedures’ control and the reforms of the business regulations as required for in Resolution No. 02/NQ-CP and other Resolutions of the Government in 2025.
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SBV suggests delaying the establishment of digital banks in financial centre
The State Bank of Việt Nam (SBV) suggested that the establishment of digital banks should be postponed to January 1, 2027.
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Promoting digital transformation and ensuring information security and safety in banking operations
In Directive No. 02/CT-NHNN dated January 20, 2025, the Governor of the State Bank of Vietnam (SBV) requested units under the SBV, credit institutions, foreign bank branches (FCs), and payment intermediary service providers (PSS) to focus on effectively implementing tasks and solutions to promote digital transformation and ensure information security and safety in banking activities in 2025.
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Personal income tax proposed for interest on some bank savings accounts
Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
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Banks firm on green growth trajectory
Vietnam’s financial and banking sector remains steadfast in its commitment to green development amid the withdrawal of numerous international financial institutions from net-zero initiatives due to concerns over political changes in the United States.
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Lofty GDP potential is indicator for credit demand
The State Bank of Vietnam targets 16 per cent credit growth, but this may have to be higher if GDP hits the 10 per cent mark this year.
