Mobile banking often leads clients to using multiple convenient services, such as taking out a loan and registering for a bank card. This is where banks can generate new streams of revenue.
Many businesses are disappointed with the move of private joint stock commercial banks, which cite a fear of a sharp drop in profits.
Business associations and industries have repeatedly asked commercial banks to ease lending interest rates to share difficulties with them in the Covid-19 pandemic.
Commercial banks have reported a sharp fall in deposits as interest rates are now at a 10-year low and people seek other investment channels.
Commercial banks have agreed to slash the lending interest rate in order to help businesses and people overcome the difficulties caused by the Covid-19 crisis.
The latest Covid-19 outbreak has pushed enterprises into new difficulties at a time when it is nearly impossible to access cheap capital sources.
As of March, the total value of G-bonds reached more than VND1,340 trillion ($58.3 billion), slightly down 0.7% against late 2020.