Latest News about central bank
Credit demand in Vietnam is expected to stay low in the foreseeable future as the Covid-19 pandemic continues to be complicated globally, said a central banker.
The central bank of Vietnam had previously cut the benchmark interest rates by 0.5 – 1 percentage point in March.
Local lenders are considering waiving interest rates of outstanding loans worth VND185 trillion (US$7.94 billion) for 34,350 customers.
With greater liquidity, investors would look for markets deemed safe with less negative impacts from the Covid-19 epidemic.
Total assets of commercial banks under state ownership accounted for 42.7% of the total in the banking sector, followed by joint stock commercial banks with 41.6%.
Vietnam’s foreign reserves have surged 2.5 times against 2015, Governor of the State Bank of Viet Nam (SBV) Le Minh Hung said.
A major proportion of bank loans are provided for the business community, particularly the private sector and individuals.
Contributing their ideas to the 2020 auditing plan, National Assembly deputies said it is necessary to audit the three zero-dong banks to discover their real financial situation.
More than 2,320 bank officers have lost jobs at VP Bank, and the figure is 1,248 at OCB. The two banks had the highest number of officers losing jobs this year.