News
Warning of increase in fake bank websites
The National Cyber Security Centre (NCSC) discovered 68 more websites impersonating the brands of agencies and organisations in order to scam users last month.
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Cheap money period in Việt Nam forecast to come to an end
The period of cheap money is coming to end as deposit interest rates are increasing, causing lending interest rates next time to be difficult to maintain at the same low level as at the beginning of this year, experts forecast.
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Banking industry meets 6% credit growth target in H1 2024
Credit by the end of June 2024 increased by about 6 per cent compared to the beginning of the year, reaching nearly VNĐ14.4 quadrillion, a positive signal showing this year's credit growth target of 14-15 per cent is within reach, experts said.
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Central bank works on protecting banking service users
The State Bank of Vietnam (SBV) will research and amend regulations on safety and security in online banking service provision to better protect customers, an SBV official said on Thursday.
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Bank warns of fraudsters impersonating employees over biometric updates
Vietcombank has warned about a new form of fraud, impersonating bank staff to support biometric updates, in order to steal banking service information.
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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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Resolve Non-Performing Loans, Enable Increased Access to Finance in Viet Nam
Co-funded by IFC and Welcome Financial Group (WFG), the new facility—to be managed by Welcome Debt Trading Company Limited (WDT), a WFG subsidiary and a distressed asset investor and servicer in Viet Nam, will focus on acquiring and resolving Non-Performing Loans held by local financial institutions.
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Low lending rates may boost credit growth
A slight increase in deposits recently has not affected lending rates, which banks are keeping low in hopes of facilitating the flow of credit.
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Direct impact of exchange rates on business operations
Policies are in place to help ensure stability in terms of exchange rates. Duong Bui, FX Trading Associate director for Markets & Securities Services at HSBC Vietnam, shared with VIR’s Nhue Man how upcoming exchange rate fluctuations may affect import-export businesses.
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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.
