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Update news vietnam banking
Banks with high outstanding loans can proactively increase their credit growth quota without having to send proposals and get approvals from the central bank, the SBV announced on Wednesday.
Commercial banks are seeking to issue bonds to raise long-term capital while adhering to capital safety regulations set by the central bank.
The State Bank of Vietnam (SBV) is pushing all credit institutions to go green in terms of banking and credit.
According to the Law, which took effect from July 1 this year, institutional shareholders will need to lower the percentage of shares they hold in a credit institutions from 15 per cent to 10 per cent
Since the start of the year, a significant number of senior bank executives have tendered their resignations, citing personal reasons.
In compliance with Vietnam's Credit Institutions Law, which took effect on July 1st, State-owned banks are beginning to disclose the identities of major shareholders holding 1% or more of their charter capital.
Bank bond issuance has surged to 96.2 trillion VND this year, a surge of 140% from last year, according to MB Securities (MBS).
As Gelex prepares to increase its stake in Eximbank, the bank's latest financial reports reveal a positive trajectory, with a reduction in non-performing loans and significant increases in employee income.
The State Bank of Vietnam (SBV) has approved GELEX Group's acquisition of shares in Eximbank, paving the way for GELEX to become a major shareholder. This strategic move aligns with GELEX's expansion plans in the financial sector.
Ten private banks paid over VND36.8 trillion worth of tax to the state in 2023, an increase of VND10.7 trillion over the year before. Each of the banks paid at least VND1 billion.
After two months of negative growth, credit began increasing again in March and gained a 6 percent growth rate by the end of June.
The latest report from the SBV showed that after half a month of implementing biometrics, only two banks saw a biometric registration rate of over 20 per cent, and four other banks had a rate of over 10 per cent.
Some 80-90 per cent of banks have partially or fully applied ESG (Environment - Social - Governance) practices in their operations, a State Bank of Vietnam (SBV)’s official said.
It is a tough market but analysts believe that 2024 will open a new period of credit growth, including consumer credit.
State-owned Agribank is seeking to auction 28 apartments in HCM City with a starting price of VNĐ60 billion to recover debt amid a sluggish property market.
After a slump, bank credit in Ho Chi Minh City has picked up again and is expected to keep rising for the rest of the year since demand for funds is usually high at year-end, the State Bank of Vietnam has said.
Currently, 80% of Vietnamese adults have bank accounts and more than 95% of banking transactions are handled digitally.
Banks lent more than 480 trillion VND (18.88 billion USD) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6% to the end of Q2.
Recently, Vietnam has seen the proliferation of "junk" bank accounts. These accounts are officially registered but sold to fraudsters for prices ranging from a few hundred thousand to several million VND.
Agribank has announced another auction for the debt of Vietnam's first wind power project developer, the Vietnam Renewable Energy One Member Limited Liability Company (REVN), after four unsuccessful attempts to sell it.