News
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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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.
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Bank deposits decline for first time in over two years
Banks’ deposits decreased for the first time in two years as of the end of March, according to data from the central bank.
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Letter of Congratulations from the Governor of the State Bank of Vietnam on the occasion of the 30th Anniversary of the establishment of Vietnam Banks Association
On the occasion of the 30th Anniversary of the establishment of Vietnam Banks Association (May 14, 1994 – May 14, 2024), on behalf of the Personnel Board of the SBV’s Party Committee and the SBV’s Board of Management, I would like to convey the best wishes to all of the former and current leaders, civil servants and employees of the Vietnam Banks Association (VNBA).
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Banking sector in AI era
On May 3, 2024, at the headquarters of the State Bank of Vietnam (SBV), the Trade Union of the central SBV organized a Seminar on "Banking sector in the era of Artificial Intelligence". SBV Deputy Governor Pham Tien Dzung, First Vice Chairman of the Steering Committee for Digital Transformation in the Banking Sector attended and gave a speech at the Seminar.
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Rules on capital adequacy ratio help reduce credit risks for banks, foreign bank branches
In order to address drawbacks for banks and foreign bank branches in Vietnam, the State Bank of Vietnam (SBV) on March 1 issued Consolidated Text 05/VBHN-NHNN of the Circular regulating capital adequacy ratios (CARs) for banks and foreign bank branches in Vietnam.
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Result of the gold bullion auction on April 23, 2024
According to the announcement of The State Bank of Vietnam (SBV), the two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars were Saigon Jewelry Company Limited (SJC) and Asia Commercial Joint Stock Bank (ACB).
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Majority of credit institutions forecast profit growth in 2024
A total of 86.2 per cent of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Việt Nam (SBV).
