State Bank of Vietnam

Update news State Bank of Vietnam

Forex reserves reach highest level to date

The State Bank of Vietnam (SBV) obtained a large amount of foreign currencies in the first half of 2019, pushing foreign exchange reserves recorded in the period to the highest level to date.

Vietnam loosens bank savings rules for foreigners

The State Bank of Vietnam has issued a new circular relaxing regulations on bank deposit services for foreigners and nonresidential organizations in Vietnam, a move designed to attract idle funds from the expat community.

Vietnam exerts pressure on Google’s YouTube advertisers

The Ministry of Information and Communications (MIC) has ordered tens of domestic and foreign brands to not advertise on video clips that contain anti-State propaganda on YouTube, a video-sharing platform.

Realty credit plagued by rising risks

Realty credit has soared compared with that of last year. Realty inventories have piled up, signaling rising risks. 

Vietnamese government determined to fulfil set goals: PM

Prime Minister Nguyen Xuan Phuc underscored the determination to accomplish all goals set for 2019, striving for a GDP growth of 6.8 percent and reining in inflation under 4 percent at the Government’s monthly meeting held in Hanoi on May 31.

First domestic chip cards launched in Vietnam

The Vietnam Bank Card Association, in collaboration with the National Payment Corporation of Vietnam (NAPAS) and seven commercial banks, launched the first domestic chip cards on May 28.

VN banks forecast further improvements

A majority of credit institutions in the country said their business performance in the first quarter of 2019 was better than the same period last year, according to the State Bank of Viet Nam's March survey released late last week.


VN banks urged to promote lending to reduce black credit

The State Bank of Vietnam (SBV) has ordered local banks to allow easier access to credit for clients to help fight loan sharks, as illegal rings have recently mushroomed in some localities, stated SBV Deputy Governor Dao Minh Tu.


Govt wants data of BOT projects publicized

 VietNamNet Bridge – Deputy Prime Minister Trinh Dinh Dung has told the Ministry of Transport to publicize data of build-operate-transfer projects which have been put into use and are under construction for State agencies and people to look at.

Vietnam’s inflation to rebound to 4.9 percent in late 2016: HSBC

 Vietnam ’s inflation is forecast to rebound to 4.9 percent in 2016 while the Gross Domestic Product growth is forecast at 6.7 percent, according to the December report of the Hong Kong and Shanghai Banking Corporation (HSBC).

SBV looks to drop bad debt below 3 percent by Sept.

 Governor of the State Bank of Viet Nam Nguyen Van Binh has set a new target to bring down non-performing loans (NPLs) to less than 3 per cent by September.


Thailand’s KBank opens two branches in Vietnam; Central bank urged to continue flexible monetary policy; PM approves special mechanism for Nhat Tan – Noi Bai route; Foreign investors frown on weak supporting industries


 Oil firm BSR sets 6.8m-tonne production goal; Hong Kong firm invests in high-end HCMC project; Manufacturing output keeps rising; Agro-forestry-fishery exports valued at 1.78 bln USD in February; Lenders post record asset values

SBV proposes $2.3b package for real estate revival

 The State Bank of Viet Nam has submitted a credit package worth of VND50 trillion (US$2.3 billion) to support the local commercial housing market during its recovery period.

SBV sells 1.1 billion USD to stabilise forex market

 The State Bank of Vietnam (SBV) has sold roughly $1.1 billion as of December 1 to stabilise Vietnam's foreign exchange market.

Depreciating dong won’t bring a miracle

The State Bank of Vietnam puts high hopes on the one percent depreciation of the local currency it made in late June. However, economists believe that one should not be too optimistic about the move.

Gov’t asks for reduction of interest rate gap

 VietNamNet Bridge – The Government has given the State Bank of Vietnam the task to narrow the gap between deposit and lending rates, in order to achieve a credit growth of 12 percent.