State Bank of Vietnam

Update news State Bank of Vietnam

Banks lower interest rates following SBV’s policy rate cut

By March 17 noon, most of the commercial banks in Vietnam had lowered their interest rates on savings accounts with terms of less than 6 months after the State Bank of Vietnam (SBV) announced its policy rate cut a day earlier.

Central bank cuts interest rates to buffer COVID-19 impact

The State Bank of Vietnam (SBV) will cut its policy rates starting from March 17 in an attempt to support the economy which has been hurt by the COVID-19 outbreak.

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.

Banks to provide over $12-billion credit to epidemic-hit firms

The banking sector is building a credit support programme with a value of $12.2 billion for firms hit by COVID-19, in an attempt to help ease their difficulties, according to an official of the State Bank of Vietnam.

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.


Two State-owned banks allowed to increase charter capital

The Government has decided to allow Vietcombank and Vietinbank to increase their charter capital by 10 trillion VND (434.8 million USD) in the first quarter of this year, Deputy Prime Minister Vuong Dinh Hue said last month.

VN central bank makes net cash withdrawal amidst high inflation pressure

The State Bank of Vietnam made a net cash withdrawal worth VND86 trillion out of the economy through open market operations (OMO) from January 20 to February 14.


Banks assist firms affected by nCoV outbreak

In response to the State Bank of Vietnam (SBV)’s appeal, a number of credit institutions have announced plans to support businesses affected by the novel coronavirus (nCoV) epidemic.

SBV removes foreign ownership limit in payment firms

The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.

BIS membership marks new stride in VN State Bank’s integration process

The State Bank of Vietnam (SBV) was recently invited to become a member of the Bank for International Settlements (BIS).

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.


Military Bank gets nod to increase charter capital to more than $1 billion

The State Bank of Viet Nam has approved Military Commercial Joint Stock Bank (MB)’s proposal to increase its charter capital to VND24.42 trillion (US$1.06 billion) from VND23.73 trillion.


Global volatilities cause Vietnamese currency to depreciate

 After a long period of stability, pressure from global markets has caused the Vietnamese dong to depreciate significantly against the US dollar in the past few days.


Vietnamese currency under bigger pressure in 2020

After being relatively stable last year, the foreign exchange rate of the Vietnamese dong against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds.

VND to average slightly weaker in 2020 ​

The Vietnamese dong (VND) would average just slightly weaker by around 1 percent to VND23,475/USD in 2020 due mainly to an predicted decrease in foreign direct investment (FDI) inflows and higher imports.

Vietnam responds to US’s latest forex exchange report

The State Bank of Vietnam (SBV) said it will continue coordinating with concerned Vietnamese ministries and agencies to communicate with the US regarding the US Department of Treasury’s latest report

VN monetary policies do not create unfair gains in int'l trade: SBV

The State Bank of Viet Nam (SBV) will be consistent in regulating monetary policies according to market developments, with no aim for an unfair competitive edge in international trade.


Vietnam orders actions to fight black credit

The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.

Vietnam sets cashless payments as top priority for 2020

The State Bank of Vietnam (SBV) has issued a resolution to boost cashless payments in the country.

Vietnam’s foreign reserves surge 2.5 times from 2015’s figure

Vietnam’s foreign reserves have surged 2.5 times against 2015, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.