News
Foreigners advised to visit bank branches for biometric verification
The State Bank of Vietnam (SBV) has issued guidance for commercial banks to serve the registration of biometric data for foreign residents in Việt Nam, when a new regulation on mandatory biometric verification for first-time mobile banking users or large valued transactions takes effect early next month, an SBV official said.
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Big4 banks, SJC sell gold bars directly to customers
The State Bank of Vietnam (SBV) announced on June 3 that the selling price of SJC-brand is 78.98 million VND (3,108 USD) per tael.
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Central bank targets ongoing price control of gold market
On June 5, the State Bank of Vietnam (SBV) announced the direct selling price of SJC-branded gold bars at four state-owned commercial banks at VND76.98 million ($3,200) per tael, down VND1 million ($41.50) per tael compared to the previous day.
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Larger lenders in good growth stead
Despite uncertainties in the banking sector, investment opportunities remain, especially for larger banks with stronger credit growth and those with close ties to real estate developers.
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SBV urges to handle rumours about gold market
The State Bank of Việt Nam (SBV) has urged the Ministry of Public Security to verify and strictly handle violations related to spreading false news, speculating, profiteering or manipulating the gold market.
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Regulations on bad debt trading, settlement revised
The State Bank of Vietnam (SBV) has issued Circular 03/2024/TT-NHNN on bad debt trading and settlement of the Vietnam Asset Management Company (VAMC) to make the work more effective.
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Settlement of weak banks remains tough
The settlement of weak banks has faced difficulties as the work mainly depends on the voluntary participation of well-performed banks, the State Bank of Vietnam (SBV) said.
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Central bank demands lending rate cuts, growth target to be met
The State Bank of Vietnam (SBV) has demanded credit institutions deliver a system-wide credit growth target of 5-6 per cent by the end of the second quarter this year, and reduce lending rates by 1-2 per cent, it said on Friday.
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Untapped potential in domestic credit card market
There is a lot of untapped potential in the number of credit card holders in the domestic market, said industry insiders and policymakers during a seminar in Hà Nội on Monday, promoting the use of domestic credit cards and a cashless society.
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Cashless payment develops rapidly in VN amid security concerns
Non-cash payments continue to grow rapidly in Việt Nam, requiring a focus on ensuring payment security, a representative of the State Bank of Việt Nam said at a press conference on Cashless Day 2024 held on Tuesday in HCM City.
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ESG – important milestone in sustainable development roadmap in Vietnam
Speaking at the ESG forum, which was organized on May 22, 2024 in Hanoi, Deputy Governor Dao Minh Tu of the State Bank of Vietnam said that the economic conditions and context in Vietnam as well as in the world would bring great opportunities, but this is also a challenge for businesses on the path to achieve sustainable development goals, especially when the ESG standards are evaluated.
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Lenders increase provisioning to protect against bad debt
Circular No.02 provides instructions for credit institutions and foreign banks on debt rescheduling and retention of debt categories to assist borrowers. It was issued in April 2023 with an initial expiry set for the end of June this year, but following this announcement from the State Bank of Vietnam (SBV), the policy is now extended until the end of the year.
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Banking sector to lead national digital transformation: PM
Việt Nam's banking sector is in a prime position to take the lead in the country's digital transformation process, said Prime Minister Phạm Minh Chính at an event organised by the State Bank of Vietnam (SBV) to promote the development of digital ecosystems and connectivity in Hà Nội yesterday.
