Banking

Latest News about Banking

Cyberattacks increase during Lunar New Yearicon

Cyberattacks increase during Lunar New Year

Taking advantage of the upcoming Tet holiday, when demand for online transactions, payments, gifts and to send lucky money increases, many hacker groups are stepping up their fraudulent activities aimed at users of banking services and e-wallets.

 
Zalo Bank not licensed by SBV and MoITicon

Zalo Bank not licensed by SBV and MoIT

BUSINESS
02/07/2020

The State Bank of Vietnam (SBV) and the Ministry of Industry and Trade have affirmed that they have not licensed Zalo Bank to provide online built-in financial services.

How will mobile money affect e-wallets?icon

How will mobile money affect e-wallets?

BUSINESS
29/06/2020

Non-cash payment activities have developed strongly in recent years with many payment services such as digital banks and e-wallets.

VietinBank to sell 50 percent of capital in Vietinbank Leasingicon

VietinBank to sell 50 percent of capital in Vietinbank Leasing

BUSINESS
25/06/2020

Vietinbank (CTG) has approved a plan to sell 50 percent of its holdings in the bank’s financial arm Vietinbank Leasing Company Limited.

Vietnamese Govt to keep pushing for cashless paymenticon

Vietnamese Govt to keep pushing for cashless payment

BUSINESS
15/06/2020

Non-cash payments have increased sharply in recent time in Viet Nam, but more efforts are needed to increase their rate, experts said.

Credit grows modestly at 1.96% in Jan-Mayicon

Credit grows modestly at 1.96% in Jan-May

BUSINESS
07/06/2020

As of May 29, Vietnam’s credit growth was only 1.96% compared with late 2019 under impacts of the Covid-19 pandemic, the Credit Department announced at a press conference held by the State Bank of Vietnam (SBV) Friday.

Central bank plans to pilot fintech regulatory sandboxicon

Central bank plans to pilot fintech regulatory sandbox

BUSINESS
07/06/2020

The State Bank of Viet Nam is planning to pilot a regulatory sandbox which would allow fintech companies to participate in providing some banking services starting from 2021.

Loan dues extended to fight economic downturnicon

Loan dues extended to fight economic downturn

BUSINESS
07/06/2020

Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at VND151 trillion (US$6.49 billion) by May 25, according to the State Bank of Vietnam.

More monetary easing measures forecast in 2020icon

More monetary easing measures forecast in 2020

BUSINESS
03/06/2020

The State Bank of Vietnam (SBV) is expected to further take monetary easing measures to support the country’s GDP growth target of above 5 per cent this year in light of a weak economic outlook, experts forecast.

Outstanding loans of twelve inefficient projects amount VND21 trillionicon

Outstanding loans of twelve inefficient projects amount VND21 trillion

BUSINESS
22/05/2020

The outstanding loans of twelve inefficient projects under the Ministry of Industry and Trade totalled US$905 million as of the end of 2019, most were overdue, according to the Government’s report to the National Assembly.

Total assets of banks in Vietnam stand at $522 billionicon

Total assets of banks in Vietnam stand at $522 billion

BUSINESS
19/05/2020

Total assets of credit institutions and foreign banks in Vietnam by the end of the first quarter of this year inched down 0.72 per cent to VND12.48 quadrillion (US$521.76 billion) compared with the end of last year.

VN credit institutions recover nearly $1.2b of bad debts in Q1 2020icon

VN credit institutions recover nearly $1.2b of bad debts in Q1 2020

BUSINESS
15/05/2020

Credit institutions in Viet Nam settled more than VND26.94 trillion (US$1.17 billion) of non-performing loans (NPLs) in the first quarter of this year.

State Bank of HCM City sets up hotline to support businessesicon

State Bank of HCM City sets up hotline to support businesses

BUSINESS
20/04/2020

The State Bank of Viet Nam's branch in HCM City has set up a hotline (028) 38.211.230 to provide assistance to enterprises, especially for those badly affected by the COVID-19 pandemic.

SHB to sell financial arm to foreign partnersicon

SHB to sell financial arm to foreign partners

BUSINESS
10/04/2020

SHB is planning to sell its shares in SHB Finance Company (SHBFC) to strategic foreign partners, the bank announced on Friday.

Moody's places five VN financial institutions on review for downgradeicon

Moody's places five VN financial institutions on review for downgrade

BUSINESS
10/04/2020

Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.

Banks offer higher rates for online savings to draw clients amid COVID-19 battleicon

Banks offer higher rates for online savings to draw clients amid COVID-19 battle

BUSINESS
05/04/2020

To encourage customers to deposit money online amid the COVID-19 pandemic, many banks have raised interest rates for online savings by up to 1.4 per cent higher than over-the-counter deposits.

VIB receives $70 million financial package from three int'l institutionsicon

VIB receives $70 million financial package from three int'l institutions

BUSINESS
12/03/2020

Vietnam International Bank (VIB) has been given a US$70 million loan from three international finance institutions, Taiwanese Cathay United Bank, Industrial and Commercial Bank of China's branch in Hong Kong and Bank of Communications.

VN banks offer aids to 44,000 COVID-19 affected customersicon

VN banks offer aids to 44,000 COVID-19 affected customers

BUSINESS
03/03/2020

Credit institutions have so far supported more than 44,000 COVID-19 affected customers following directions from the State Bank of Viet Nam (SBV), an official reported on Monday.