vietnam banking

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15 Vietnam banks listed in Brand Finance Banking 500 2024 ranking

Fifteen Vietnamese banks are named among the world’s top 500 most valuable banking brands this year according to the Brand Finance Banking 500 2024 ranking. In the recently released ranking.

Bank credit increases again in March

After declining in the first two months of this year, credit of the banking industry in March increased by 0.26% compared to the end of 2023 to about 13.6 quadrillion VND, the State Bank of Vietnam (SBV) reported.

Banks disclose lending rates to the public for the first time

The State Bank of Vietnam has demanded banks submit links to the section announcing various interest rates before April 1st. If there are changes to the links, they must be updated within two working days.

Banks continue to cut deposit interest rates

A decrease in deposit interest rates has been recorded in a number of banks from the beginning of April.

Vietnam’s banking profitability forecast to strengthen in 2024

Vietnam Investors Service (VIS Rating) predicts the industry’s return on average assets (ROAA) will recover from wider net interest margins (NIM) and stronger loan growth and support capital generation.

SBV approves designation of 14 important banks in 2024

The State Bank of Vietnam (SBV) has issued Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.

Biometric authentication required for transfers over VND10 million from July

In the wake of recent massive fund disappearances from bank accounts, the State Bank of Vietnam (SBV) has mandated biometric authentication for online money transfers and e-wallet top-ups exceeding VND10 million, with effect from July 1 this year.

Deposit interest rates to remain low until mid-2024: analysts

Deposit interest rates are expected to remain low until the middle of 2024, with a slight increase anticipated thereafter due to higher credit demand, analysts said.

Banks must contact card holders with overdue debt: SBV

Banks must proactively contact credit card holders whose debt is overdue, according to a State Bank of Vietnam (SBV) directive.

Central bank told card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks conduct reviews on their procedures in issuing and managing bank cards.

Central bank works on bad debt regulations

The draft circular supplements regulations that VAMC can sell collateral of a NPL higher or lower than the principal balance of the NPL.

’Junk’ bank cards causing waste issues

In order to increase market share of bank cards, banks have been issuing debit cards regardless of whether customers use them or not, which has caused waste.

Nearly 20 commercial banks lower deposit rates

Nearly 20 commercial banks in Vietnam have adjusted deposit rates since the beginning of this month, with most lowering rates.

Moody's upgrades the outlook of Techcombank 2024

The credit rating organisation Moody's announced an update of the outlook for the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) to stable.

VN banks remain reluctant in disclosing interest rates

It's neither beneficial nor possible at times for commercial banks to make their interest rates public, as instructed in Government Directive No. 18 dated March 5, said industry experts and insiders.

Banks step up private placements to foreign investors in 2024

After a quiet year in 2023, many banks will promote stock offering to foreign investors again and some of them may complete the deals this year, analysts forecast.

Vietnam’s commercial banks continue to expand

Twelve Vietnamese banks had charter capital of $1 billion or higher as of December 31, 2023. The total charter capital of 27 listed banks was VND671.571 trillion ($27.51 billion), an increase of VND93 trillion (16 percent) compared with late 2022.

Credit shrinks as businesses refrain from borrowing money

The State Bank of Vietnam (SBV) reported that the outstanding loans of the entire banking system in January decreased by 0.6 percent compared with the end of 2023.

Online payment blooming in Vietnam thanks to its convenience

Due to the government’s promotion of cashless payment, online payment has seen significant growth, contributing to the development of the digital economy.

Some banks recruit workers, others lay off thousands of officers

As many as 236,000 officers were working for commercial banks by the end of 2023, an increase of 6,400 officers over the year before, according to fourth-quarter financial reports from 27 listed banks.