the State Bank of Vietnam
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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14 banks are systemically important in 2024
The State Bank of Vietnam (SBV) has issued the Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.
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VNBA requests members to give opinions on the Draft Circular replacing Circular No. 08/2021/TT-NHNN
Vietnam Banking Association (VNBA) has just sent an official request to the General Directors of member organizations to give opinions to the provisions related to special loans in the Draft Circular replacing Circular No. 08/2021/TT-NHNN (amended and supplemented).
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Interest rate cut expected to stimulate demand for home loans
According to a report by the State Bank of Vietnam (SBV), people’s demand for home loans and home repairs decreased by 1.12 per cent in the first half of this year, while the loans increased by up to 31 per cent last year.
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Banks still perform well amid pandemic-caused difficulties
Banks’ pre-tax profits this year will remain relatively positive but are yet to be sustainable as banks haven’t set up contingency reserves for restructured debts.
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Detailed policies needed to help firms get loans
Many businesses suggested more detailed policies should be issued to help them access bank loans as there remain difficulties in lending.
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SBV to consider revising credit growth targets for banks
From now until the end of the year, the State Bank of Vietnam will review and consider revising credit growth targets for credit institutions and priority is expected to be given to those that reduce loan interest rates.
