Banking

The number of non-performing loans had been on the rise among recipients under a Government directive (Decision 67/2014/ND-CP) to support Vietnamese fishermen to build or upgrade their fishing vessels.

The Government has announced new regulations regarding the charter capital required by credit institutions.

The State Bank of Viet Nam (SBV) has proposed freezing the accounts of those suspected of committing the fraud.

A number of local commercial banks, including major players, have reduced and even eliminated service fees to attract more service users and depositors.

Several local banks have reduced their interest rates in recent days, going against the banking sector’s general year-end trend of increasing rates to boost earnings.

The proposal was presented by the NA Economic Committee Chairman Vu Hong Thanh on Monday as a part of the socio-economic development plan for 2020.

Vietnamese electronic wallet and payment application Momo jumped 48 places to sit at 36th in the top 100 global innovative fintech firms this year.

Tien Phong Commercial Joint Stock Bank (TPBank) has become the first Vietnamese bank to use blockchain technology for money transfers abroad.

The VND was expected to remain broadly stable against the USD over the remainder of 2019 and to be slightly weaker on average over 2020, buoyed by robust FDI inflows, dollar purchases by businesses, and a healthy foreign reserve position.

The EU has a strong financial services market and the EVFTA will have a significant impact on the Vietnamese economy and finance market.

Bank loans for build-operate-transfer (BOT) and build-transfer (BT) infrastructure projects by the end of September this year reached nearly VND110 trillion (US$4.72 billion), up 1.85 per cent against the end of 2018.

The Government will continue to tighten credit in the real estate industry.

The banking sector had made considerable headway into settling bad debt, restructuring credit institutions and developing the banking system two years since the National Assembly issued a resolution on the industry.

Vietnam must identify, implement and build management models for sharing economy applications in the country’s major sectors such as banking and transport to ensure a fair business playground and protect all involved parties.

Vietcombank is heading to Australia and could open for business in Sydney within the next 12 months.

Lack of disclosed information, listing plans and risks of non-performing loans are dragging OTC-traded bank stocks down.

Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Viet Nam (SBV)’s...