News
Unlocking digitalisation potential in banking sector
While 5G commercialisation is expected to open more opportunities for the banking sector, various issues remain. Dr. Nguyen Quoc Hung, Vice chairman of the Vietnam Banks Association, spoke with VIR’s Minh Anh about the current driving forces.
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Urgently implement measures to support people and enterprises affected by Typhoon Yagi
On September 18, 2024, in Hanoi, Deputy Governor Dao Minh Tu of the State Bank of Vietnam (SBV) chaired a meeting with the credit institutions to discuss and agree on the urgent implementation of measures to support the people and enterprises affected by Typhoon Yagi (also referred to as Typhoon 3 of 2024).
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Core inflation in eight months of 2024 increases by 2.71%
According to the General Statistics Office of Vietnam (GSO), the consumer price indices of the commodities and services in August 2024 experienced both ups and downs, in which the price indices of the groups of food and foodstuff, rental housing increased as compared to those of July 2024, while the domestic fuel prices decreased in line with the declining international oil prices. In general, the consumer price index (CPI) in August 2024 was stable as compared to that of the previous month.
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Banks discuss measures to support typhoon-affected customers
Figures from credit institutions and branches of foreign banks in affected localities as of Tuesday, showed that around 73,000 customers were affected with a total outstanding loan of VND94 trillion.
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Banks required to list suspect accounts for better supervision
Commercial banks must provide information on accounts that show possible signs of fraud, swindling, or law violations at the State Bank of Vietnam (SBV) 's request every month.
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Banks set to stimulate credit growth in last quarter
Banks are developing favourable credit schemes for the manufacturing and business sectors, while relaxing lending standards across all customer groups and the majority of loan sectors in the last quarter of the year.
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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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New policy stipulates special lending cases for credit institutions
Credit institutions will receive special loans from the State Bank of Vietnam (SBV) to pay depositors in case they face mass withdrawals, according to a new SBV regulation.
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Lenders seek regulations to disburse green finance
Many banks are increasing their focus on implementing green finance packages, but unlocking these promising capital sources still requires suitable mechanisms.
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SBV orders debt relief and lending support following Typhoon Yagi
The State Bank of Vietnam (SBV) has instructed credit institutions to consider offering interest rate reductions, debt restructuring, and new lending support for borrowers impacted 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.
