Vietnamese tend to be more open to digital banking services than people in other countries in the Asia-Pacific region such as Singapore, Malaysia, New Zealand or Australia, according to a recent survey by FICO.
Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.
The State Bank of Vietnam could increase credit growth limits for credit institutions this year or even launch stronger monetary policies to aid the country’s post-pandemic growth, Governor Le Minh Hung has said.
Vietinbank (CTG) has approved a plan to sell 50 percent of its holdings in the bank’s financial arm Vietinbank Leasing Company Limited.
Non-cash payments have increased sharply in recent time in Viet Nam, but more efforts are needed to increase their rate, experts said.
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.
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 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.
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.
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 is planning to sell its shares in SHB Finance Company (SHBFC) to strategic foreign partners, the bank announced on Friday.
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.
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.
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.