Banking

Update news Banking

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.

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.

Large growth potential for Vietnam banking services in long-term

Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.

Stronger money policies might be considered to aid economic growth: SBV

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.

 

Zalo Bank not licensed by SBV and MoIT

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?

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 Leasing

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 payment

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-May

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 sandbox

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 downturn

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 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 trillion

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 billion

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 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 businesses

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 partners

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 downgrade

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 battle

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 institutions

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.