News
Personal income tax proposed for interest on some bank savings accounts
Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
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Central bank cuts interest rate on bills for first time in 2025
According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
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Developments of interest rates applied by credit institutions in December 2024
The average deposit interest rates in VND were at 0.1-0.2% p.a. for demand and below 1-month terms; the average lending interest rates were between 6.7-9.0% p.a. for new loans and existing loan outstandings.
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Implement effectively management measures for monetary policy and banking operations in 2025
The Governor of the State Bank of Vietnam (SBV) has issued Directive No. 01/CT-NHNN dated 20 January 2025 on the key tasks of the banking sector in 2025.
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Prime Minister: Banks need to sacrifice part of their profits to reduce lending rates, support the economy, people and businesses
On the morning of February 11, 2025, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the Government Standing Committee Conference to work with commercial banks to accelerate, break through, promote growth and control inflation.
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Banks stimulate credit from the beginning of 2025
Many banks have implemented loan packages with preferential interest rates. Currently, the lowest short-term loan interest rate is from 4.5 per cent.
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PM Phạm Minh Chính asks credit institutions to stabilise gold market
Prime Minister Phạm Minh Chính signed Directive No. 03/CT-TTg on February 4, 2025, highlighting key tasks for implementation after the 2025 Lunar New Year holiday. The directive includes a special emphasis on stabilising the gold market in Việt Nam.
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Banking mergers and acquisitions drive Vietnam’s future aspirations
If the activities and initiatives over the past few years are any indication to go by, we can safely say that the Vietnam’s banking sector will be entering a transformative phase in 2025 and beyond, marked by significant mergers and acquisitions (M&A) that have reshaped the industry landscape over the past few months.
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Digital banking services in Việt Nam make remarkable stride
More than 87 per cent of Việt Nam’s adult population now hold payment accounts at banks while many credit institutions are processing more than 95 per cent of transactions through digital channels.
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Banking sector asked to move past difficulties, create breakthroughs
Visiting the State Bank of Vietnam (SBV) on the first working day after the nine-day Tết holiday - PM Phạm Minh Chính commended the central bank for proactively monitoring both international and domestic economic developments.
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Credit growth to drive bank stock valuations in 2025
Credit growth is projected to be the main catalyst for driving bank stock prices in 2025, building on the undervaluation observed in the previous year.
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2025 a new era for financial institutions
Recent adjustments to Việt Nam's economic growth forecasts from major financial institutions highlight growing confidence in the country's economic trajectory.
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Remittances to HCMC soar to $9.6B
Remittances to HCMC last year were worth a record US$9.6 billion after rising by $140 million from 2023.
