the State Bank of Vietnam
More than 86 million bank accounts to be terminated from September 1
The SBV stated that the deletion of over 86 million bank accounts was considered a system cleanup measure.
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Interest rates on downward trajectory
Persistently low volumes in collateralised open market operations lending, and the central bank’s steady net withdrawals, have underscored a surplus of VND liquidity in the banking system, bolstering market confidence and driving interbank rates to fresh lows.
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New preferential interest rates for young people under 35 years old to buy social housing and customers investing in projects
The State Bank has just announced preferential interest rates applicable from July 1 to December 31, 2025, for young people under 35 years old borrowing to buy social housing and customers investing and buying houses in social housing projects and worker housing.
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Regulatory sandbox in banking sector is a bold policy innovation
With more than 95 per cent of registered enterprises being SMEs, the private sector plays a decisive role in driving economic growth, innovation, and digital transformation.
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Banks end magnetic cards, require biometrics for firms from July 1
From July 1, banks across Việt Nam stopped using magnetic stripe cards and now require biometrics for company accounts to prevent fraud and improve security.
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The State Bank of Vietnam reorganizes the regional branch system
Regional branches of the State Bank of Vietnam (SBVs) will officially come into operation from July 1, 2025, in sync with the new local government system.
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Shinhan Bank and Visa collaborate to promote payment solutions for SME
Shinhan Bank Vietnam Limited (“Shinhan Bank”) and Visa International (“Visa”) participate in the “Cashless Day 2025” program with the theme “Cashless payment promotes digital economy”.
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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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ESG implementation in banking: from awareness to action
Deputy Governor of the State Bank of Vietnam Dao Minh Tu emphasised that increasing ESG implementations requires financial institutions to consistently comply with evolving regulations, demonstrating environmental and social responsibility while enhancing their credibility and transparency.
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Central bank issues new decisions on deposit interest rates
The State Bank of Vietnam (SBV) has issued two new decisions on deposit interest rates, effectively from November 20 this year.
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MB’s nine-month credit growth outpaces industry average by 80 per cent
Military Commercial Joint Stock Bank (MB) has released its Q3/2024 financial results, highlighting a range of positive business indicators.
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SBV and CBUAE sign MoU on Cooperation
On October 28, 2024, within the framework of the official visit to United Arab Emirates (UAE), Prime Minister Pham Minh Chinh and Vice President/Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum witnessed a ceremony announcing the signing of the cooperation documents between the two countries, including a Memorandum of Understanding (MoU) on Cooperation in the banking sector between the State Bank of Vietnam (SBV) and the Central Bank of the UAE (CBUAE).
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Deputy Governor Pham Tien Dzung meets JICA’s Delegation
On October 23, 2024, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung had a meeting with Mr. Shimizu Akira, Director General of the Treasury, Finance and Accounting Department of Japan International Cooperation Agency (JICA). Mr. Shimizu Akira was previously Chief Representative of JICA Vietnam Office during the 2020-2022 period.
