Eight commercial banks have received new credit growth quotas for this year, with seven of them entitled to lend less than last year.

The State Bank of Vietnam (SBV) has withdrawn a significant amount of money out of the banking system with an aim to increase the interest rate of the Vietnamese dong.

Vietnam’s central bank net withdrew over VND30 trillion from the market last week as the banking system saw surplus liquidity due to slow credit growth.

Speaking at a conference on real estate credit on February 8, State Bank of Vietnam (SBV) Governor Nguyen Thi Hong warned about lending to "back-door" enterprises.

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

The central bank has said it will keep monetary policy flexible to ensure inflation does not exceed 4.5 per cent this year and monetary and foreign exchange markets remain steady.

The State Bank of Vietnam (SBV) would raise solutions to tackle credit congestion into the real estate sector to ensure the healthy and stable development for the market, SBV Deputy Governor Dao Minh Tu said.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has directed banks to continually reduce input costs with an aim to cut loan interest rates.

The State Bank of Viet Nam (SBV) should continue to take measures against dollarisation and goldenisation in the domestic economy as the markets remain potential risks for the rising speculation and hoarding of the assets, experts said.

While the problem of the VND’s liquidity has been stabilised, the economy is still facing challenges regarding macro-stability and exchange and interest rate pressure, according to financial experts.

Though the monetary regulator has taken intervention measures, the pressure on the forex market remains high.

Vietnam has been removed from the US's monetary manipulation monitoring list, according to the State Bank of Vietnam (SBV).

Central banks across the globe have announced their recent rate hike in a bid to tame inflation, but market watchdogs predict that the tempo of rate rises is starting to slow down.

A draft has been drawn up to amend the Law on Prevention of Money Laundering 2012. It is going through stages of scrutiny and debate in the National Assembly before becoming law.

The State Bank of Vietnam adjusted several operating interest rates last week, with the move deemed necessary in the context of a strong USD and increasing domestic pressure on interest rates and exchange rates.

Vietnam’s central bank governor has said real estate loans are being restricted to protect commercial banks and control inflation.

State Bank of Vietnam has lifted caps on credit growth to boost credit to the economy as firms need bank loans to scale up production towards year-end.

The State Bank of Vietnam is attempting to stabilise lending rates while also mobilising credit institutions to continue reducing operating costs and support both individuals and businesses.

Negative rumors regarding the Saigon Bank (SCB) caused people to withdraw money from the bank ahead of the maturity dates.

After the State Bank of Vietnam implemented the new operational interest rate on September 23, all joint-stock commercial banks, with the exception of state-owned ones, have adjusted the deposit interest rate for most terms.