News
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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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.
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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.
