State Bank of Vietnam

Latest News about State Bank of Vietnam

Banks told to reach out to remote areas to compete with black crediticon
BUSINESS16/11/20200

Banks told to reach out to remote areas to compete with black credit

Since black credit is creeping into every corner of society, commercial banks also need to reach out to every village to combat it and scramble for clients.

 
VN central bank further cuts benchmark interest rate to aid economyicon

VN central bank further cuts benchmark interest rate to aid economy

BUSINESS
01/10/2020

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.

Central bank: Cryptocurrencies are not accepted in Vietnamicon

Central bank: Cryptocurrencies are not accepted in Vietnam

BUSINESS
23/09/2020

The State Bank of Vietnam (SBV) has not accepted cryptocurrencies as a currency and a legal means of payment, said Nghiem Thanh Son, Deputy Director of the SBV's Payment Department.

Vietnam’s forex reserve sets new recordicon

Vietnam’s forex reserve sets new record

BUSINESS
09/09/2020

Vietnam’s foreign exchange reserve has hit a new record high of 92 billion USD, a significant expansion from 84 billion USD which Governor of the State Bank of Vietnam Le Minh Hung revealed in April.

COVID-19 hits remittances to Vietnamicon

COVID-19 hits remittances to Vietnam

BUSINESS
24/08/2020

Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

A strange move initiated by the central bankicon

A strange move initiated by the central bank

BUSINESS
21/08/2020

The State Bank of Vietnam (SBV) has issued decisions No. 1349 and 1351 on cutting interest rates applicable to compulsory reserves deposited at the central bank by credit institutions, 

Central bank to adjust monetary policies to weather pandemicicon

Central bank to adjust monetary policies to weather pandemic

BUSINESS
19/08/2020

The State Bank of Vietnam (SBV) announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.

Zalo Bank not licensed by SBV and MoITicon

Zalo Bank not licensed by SBV and MoIT

BUSINESS
02/07/2020

The State Bank of Vietnam (SBV) and the Ministry of Industry and Trade have affirmed that they have not licensed Zalo Bank to provide online built-in financial services.

Bank lending expected to get out of coronavirus doldrums soonicon

Bank lending expected to get out of coronavirus doldrums soon

BUSINESS
22/06/2020

Experts have forecast bank credit growth in the second quarter to reach 3.5-4 percent, much higher than the rate in the first quarter.

Vietnam's credit institutions must speed up restructuring to meet deadlineicon

Vietnam's credit institutions must speed up restructuring to meet deadline

BUSINESS
16/06/2020

Some credit institutions (CIs) that have not yet completed their restructuring roadmap will have to speed up the process to meet the State Bank of Vietnam (SBV)’s deadline this year.

VN banks upbeat about charter capital hike in 2020icon

VN banks upbeat about charter capital hike in 2020

BUSINESS
09/06/2020

Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.

Loan dues extended to fight economic downturnicon

Loan dues extended to fight economic downturn

BUSINESS
07/06/2020

Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at VND151 trillion (US$6.49 billion) by May 25, according to the State Bank of Vietnam.

Stock market may not enjoy lower lending rate impact: analystsicon

Stock market may not enjoy lower lending rate impact: analysts

BUSINESS
04/06/2020

The recent interest rate cuts by the State Bank of Vietnam (SBV) have little impact on the Vietnamese stock market, analysts have said.

E-wallets owners must complete the identity verification before July 7icon

E-wallets owners must complete the identity verification before July 7

BUSINESS
03/06/2020

Deputy Governor of the State Bank of Vietnam Dao Minh Tu has said July 7 is the deadline for e-wallet owners to complete the identity verification.

State bank to remove barriers to preferential-loan accessicon

State bank to remove barriers to preferential-loan access

BUSINESS
02/06/2020

The State Bank of Vietnam will consider simplifying lending procedures to help COVID-19-affected firms easily access preferential interest rate loans, SBV Deputy Governor Dao Minh Tu said.

Vietnamese take increasingly to cashless paymentsicon

Vietnamese take increasingly to cashless payments

BUSINESS
28/05/2020

Non-cash payments have increased sharply, especially through mobile devices and the internet, according to the State Bank of Vietnam.

Central bank, Quang Ninh best performers in 2019 Public Administration Reform Indexicon

Central bank, Quang Ninh best performers in 2019 Public Administration Reform Index

SOCIETY
20/05/2020

The State Bank of Vietnam (SBV) ranked first in the Public Administration Reform Index (PAR Index) in 2019 with 95.4 out of 100 points.

Backbase report: Mobile transactions in Vietnam to grow 400 pct. by 2025icon

Backbase report: Mobile transactions in Vietnam to grow 400 pct. by 2025

BUSINESS
12/05/2020

Mobile transactions in Vietnam are forecast to increase by 400 percent by 2025 in the Fintech and Digital Banking 2025 - Asia Pacific Report released by Backbase on May 11.