credit institutions

Update news credit institutions

The country will reduce the number of credit institutions and basically finish the settlement of poor-performing banks by 2025 to make the banking system develop healthily and sustainably.

Should real estate credit be tightened?

While agreeing that real estate credit can be tightened, experts warn that if the credit ‘valve’ is locked in an extreme way, the property market will stagnate, thus harming the economy.

Local banks earn high profits from bancassurance activities

Local credit institutions are enjoying a rise in bancassurance activities with more exclusive deals coming, according to industry insiders.

VN central bank further cuts benchmark interest rate to aid economy

The State Bank of Vietnam (SBV) on September 30 announced its decision to lower the benchmark interest rate as part of efforts to support the national economy amid difficulties posed by the COVID-19 pandemic.

Bad debts get worse

Even after launching a credit package worth hundreds of trillions of dong to support businesses, bad debts will still increase this year.

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.

 

Many fees slashed to support businesses post-pandemic

The Ministry of Finance has slashed administration fees in numerous sectors to help the economy get back on its feet when the COVID-19 pandemic eases.

VN central bank asks for cut in electronic fund transfer fees

The State Bank of Vietnam (SBV) on March 31 issued a directive to reduce the fees for transactions via interbank electronic payment system by 50 percent for local banks.

Epidemic causes credit growth to slow significant in first two months

Credit growth of the banking system in the first two months of this year reached only 0.06 percent, slowing significantly against the 1 percent rate in the same period last year, due to impacts of the COVID-19 epidemic.

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

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.

 

Banks to provide support to customers affected by coronavirus

The State Bank of Vietnam has asked credit institutions to prepare capital sources to meet borrowing demand and provide support to customers who have been affected by the coronavirus epidemic.

 

Vietnam c.bank's new circular to turn US$1.73 billion required reserves to loans

The circular lists cases that credit institutions are granted a reserve requirement waiver or a lower reserve requirement ratio.

Credit institutes must raise charter capital, forex exchange services tightened

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

 

Legal capital levels set for foreign financial organisations in Vietnam

The Government recently issued Decree No.86/2019/ND-CP regulating the minimum legal capital levels of foreign banks’ branches and credit institutions operating in Vietnam.

Vietnam among top 25 global performers in credit access: WB

Vietnam has made considerable progress in terms of providing access to credit to become one of the top 25 global performers, according to the newly-released Doing Business Report 2020 produced by the World Bank.

Vietcombank posts record profit of nearly $757.6 million

Bank for Foreign Trade of Vietnam (Vietcombank) reported $757.59 million in consolidated profit in the first nine months of this year, surging 50.6 percent from the same time last year and reaching 85.8 percent of the yearly plan.

VN central bank warns credit institutions over rate hikes

The State Bank of Vietnam (SBV) said it will closely monitor interest rates offered by credit institutions and take measures to strictly handle violations of the law, including cutting credit growth targets.

 

Foreigners still allowed to make term deposits

Resident and non-resident foreigners in Vietnam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers.

VN Central Bank set to rank local banks, credit institutions

 The State Bank of Viet Nam (SBV) will rank credit institutions and foreign bank branches operating in the country in a move to ensure the safety of the banking system and protect legitimate rights of depositors.