Vietnam faces capital redundancy amidst complex global situation: Agribank chairman

Vietnam faces capital redundancy amidst complex global situation: Agribank chairman

The international situation remains complicated in 2024, negatively impacting business activities of Vietnamese enterprises, especially banks, said chairman of wholly state-owned Agribank Pham Duc An.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam lending rates fall faster than deposit rates

Vietnam lending rates fall faster than deposit rates

Average lending interest rates in Vietnam tended to fall faster than those on deposits, with respective drops of 0.25% and 0.15% as of January 31 compared to the end of 2023.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam begins 2024 with 0.6% credit growth fall

Vietnam begins 2024 with 0.6% credit growth fall

Credit growth of Vietnam’s banking system dropped 0.6% in January over end-2023, according to the State Bank of Vietnam (SBV), the nation’s central bank.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Lend more, promote growth, Vietnam central bank tells commercial banks

Lend more, promote growth, Vietnam central bank tells commercial banks

The State Bank of Vietnam (SBV) has asked commercial banks to take measures to boost credit growth in the first months of 2024 and contribute to promoting economic growth.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks thirsty for medium- and long-term capital

Vietnam banks thirsty for medium- and long-term capital

Vietnamese banks are holding abundant short-term liquidity, but they still need medium- and long-term capital sources to boost credit growth.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Institutional shareholders holding over 10% stake in seven Vietnam banks

Institutional shareholders holding over 10% stake in seven Vietnam banks

Vietnam has seven banks with institutional shareholders holding more than 10% of charter capital, according to banks’ 2022 and H1/2023 governance reports.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Institutional shareholders’ ownership ratio in banks needs to be reduced: legislators

Institutional shareholders’ ownership ratio in banks needs to be reduced: legislators

The ownership ratio of an institutional shareholder in banks must be cut from 15% to 10% to diversify shareholder structure, increase publicity and limit control and takeovers of banks, said the National Assembly (NA) Standing Committee on Monday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s four state-owned banks enjoy solid 2023 profit growth

Vietnam’s four state-owned banks enjoy solid 2023 profit growth

Vietnam’s four state-owned banks, known as the "Big 4", all recorded sound profit growth of 10-19% in 2023.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banking system credit expands 11% in 2023 through December 21

Vietnam banking system credit expands 11% in 2023 through December 21

Vietnam’s banking system credit grew 11.09% in 2023 through December 21, up from 7.39% recorded in early November, according to the General Statistics Office (GSO).

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Excessive money supply may put economy into recession: expert

Excessive money supply may put economy into recession: expert

Monetary policy is not a magic wand and excessive money supply does not necessarily promote growth. Instead it can cause high inflation or put the economy into a recession and liquidity trap when demand is weak, writes Assoc. Prof. Dr. Nguyen Huu Huan from the University of Economics Ho Chi Minh City.

Opinion - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam Prime Minister requests faster, more flexible credit management

Vietnam Prime Minister requests faster, more flexible credit management

Credit management must be faster, flexible and effective, Prime Minister Pham Minh Chinh has ordered.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Client deposits at credit institutions in Vietnam reached a record high of VND12,680 trillion (circa $522 billion) as of end-September, rising 7.28% from end-2022, data from the central bank showed.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Cross-ownership in Vietnam banks a headache seen from Van Thinh Phat-SCB scandal

Cross-ownership in Vietnam banks a headache seen from Van Thinh Phat-SCB scandal

The scandal surrounding real estate developer Van Thinh Phat Group and Saigon Commercial Bank (SCB) shows that violations in cross-ownership and cronyism have become complicated and increasingly sophisticated, posing a huge challenge for regulators when it comes to preventing businesses from controlling banking activities.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks’ bad debt exceeds $8.3 bln in 9 months

Vietnam banks’ bad debt exceeds $8.3 bln in 9 months

The total bad debt of 28 Vietnamese commercial banks in the year to September 30 reached more than VND201.8 trillion ($8.3 billion), an increase of 49.5% from the start of 2023.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks see mixed profit results in Q3

Vietnam banks see mixed profit results in Q3

Vietnamese banks saw a strong divergence in third-quarter profits, with many reporting growth thanks to a sharp reduction in credit risk provisioning costs.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s bad debt skyrockets: central bank

Vietnam’s bad debt skyrockets: central bank

The bad debt ratio in Vietnam soared from 2% at the beginning of the year to 3.56% in late July, equivalent to more than VND440 trillion ($18 billion), according to the State Bank of Vietnam (SBV).

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank plans further action against cross-holding in banks

Vietnam central bank plans further action against cross-holding in banks

The State Bank of Vietnam (SBV), the country's central bank, is planning to take additional steps to deal with cross-holdings in local banks and clear potential risks to the banking system.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Banks race to reduce lending rates to facilitate debt repayments

Banks race to reduce lending rates to facilitate debt repayments

Big commercial banks have launched new loan packages with low interest rates of only 5.6-8% per year to help customers repay their debts at other banks.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Bond market bustles as Vietnamese banks go on issuing spree

Bond market bustles as Vietnamese banks go on issuing spree

Vietnamese banks have gotten busy issuing bonds after the government removed a few bottlenecks at the end of the second quarter, with a spurt seen last month.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Banks with high property loan ratios to benefit from amended circular

Banks with high property loan ratios to benefit from amended circular

The withdrawal of three provisions from Circular 06/2023 by the State Bank of Vietnam (SBV) is expected to benefit banks with high ratios of outstanding property and construction loans.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank requests more lending rate cuts

Vietnam central bank requests more lending rate cuts

The State Bank of Vietnam (SBV) has asked banks in the country, both domestic and foreign, to further lower lending rates by expected 1.5-2 percentage points per annum to better support the country’s economic growth.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Huge room remains for interest rate cuts: economist

Huge room remains for interest rate cuts: economist

Vietnam has ample room to make further interest rates cuts in the coming time as lending rates remain high while cash flowing into the economy is limited, said economist Le Xuan Nghia.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Sacombank, Techcombank violate credit supply rules: gov’t inspectors

Sacombank, Techcombank violate credit supply rules: gov’t inspectors

Several Vietnamese private banks such as Sacombank, Techcombank, VietABank, National Citizen Bank (NCB) and Bac A Bank violated credit supply regulations in the 2013-2017 period, according to the Government Inspectorate.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank revises down credit growth target to 14%

Vietnam central bank revises down credit growth target to 14%

The State Bank of Vietnam (SBV) on Monday adjusted down the country's 2023 credit growth target for credit institutions to about 14% from the 14-15% set at the beginning of the year.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's central bank lowers deposit rate caps for second time in 2023

Vietnam's central bank lowers deposit rate caps for second time in 2023

The State Bank of Vietnam (SBV) will lower the ceiling interest rates on dong-denominated deposits by another 0.5 percentage points for terms below six months from Thursday, to support economic growth.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banking system needs strong reforms: expert

Vietnam banking system needs strong reforms: expert

The Vietnamese banking system must be reformed in a comprehensive and substantive manner in order to unleash credit and other capital sources for the economy, said banking expert Dr. Nguyen Tri Hieu.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

New circulars to promote credit growth: securities broker

New circulars to promote credit growth: securities broker

The State Bank of Vietnam’s (SBV) two new circulars are expected to have positive impacts on banks with a high proportion of real estate or consumer loans, and promote credit growth amid excess bank liquidity, according to top Vietnamese broker VNDirect.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

New circular allows banks to redeem corporate bonds

New circular allows banks to redeem corporate bonds

Vietnamese banks can now immediately buy back corporate bonds they have sold under a new circular issued by the State Bank of Vietnam (SBV).

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Banks given green light to redeem corporate bonds

Banks given green light to redeem corporate bonds

Prime Minister Pham Minh Chinh has instructed the State Bank of Vietnam (SBV) to amend regulations to enable credit institutions to immediately redeem corporate bonds.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

SBV may consider another policy interest rate cut

SBV may consider another policy interest rate cut

The State Bank of Vietnam (SBV) may consider another policy interest rate cut as central banks of other countries, especially the U.S. Federal Reserve, tend to ease monetary tightening and domestic inflation is kept under control.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Woman gets life sentence for $18 mln bank fraud

Woman gets life sentence for $18 mln bank fraud

The Hanoi People’s Court on Friday handed down a life sentence to a 39-year-old woman for fraudulently appropriating more than VND430 billion ($18.28 million) from three banks and a number of individuals.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banking system needs serious shake-up: expert

Vietnam banking system needs serious shake-up: expert

The Vietnamese banking system must be reformed comprehensively and substantively, given many banks showing increasingly weak financial health, wrote banking expert Dr. Nguyen Tri Hieu.

Opinion - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s credit growth forecast to reach 12% in 2023

Vietnam’s credit growth forecast to reach 12% in 2023

Credit growth in Vietnam will hit only 12% this year due to the ailing real estate market, decelerating export growth, and high interest rates, said top broker VNDirect Securities.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnamese banks cut lending rates

Vietnamese banks cut lending rates

A series of Vietnamese banks, both State-run and private, have announced interest rate reductions of 1-3 percentage points and preferential credit packages.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam interest rates to cool down in 2023

Vietnam interest rates to cool down in 2023

Interest rates in the Vietnamese banking system are forecast to decrease in 2023 when macro conditions improve.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7