News
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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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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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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Lenders still most active in corporate bond issuance
Vietnam’s corporate bond market is experiencing a resurgence, but delayed payments and other factors continue to make dents in the sector.
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New policy promotes green banking development in Vietnam
The State Bank of Vietnam (SBV) is pushing all credit institutions to go green in terms of banking and credit.
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SBV warns about imposter scams with phishing links to update biometric information
Recently, the State Bank of Vietnam (SBV) has received reports about imposters pretending to be the SBV, faking the SBV's email interface to send information to lure people and customers to click on phishing links to update their biometric information used for banking transactions.
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Vietnamese, Lao central banks discuss cooperation in using local currencies in bilateral trade
The State Bank of Vietnam and the Bank of Laos have jointly organised a conference to share experience in promoting the use of respective domestic currencies in bilateral trade and investment cooperation activities to prevent external risks.
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Banks to shift to retail lending to gain credit growth
Many banks, which used to focus on lending to individual (retail) customers, have had to shift to expanding corporate lending to achieve credit growth in the first half of 2024.
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Banks race to issue bonds to raise capital
Many banks have issued large amounts of bonds to raise thousands of billions of Vietnamese đồng, pushing interest rates to around 8 per cent per year, much higher than that of normal savings.
