National Assembly (NA) deputies raised a number of questions for the Chief Justice of the People’s Supreme Court and the Prime Minister at the Q&A session of the ongoing fourth sitting of the 14th National Assembly in Hanoi on November 18.
Although access to credit is seen as a key factor in ending poverty, just 29 percent or so rural households have received loans, a new report says.
Credit cardholders will not be allowed to withdraw cash worth more than VND5 million for domestic transactions and no more than VND30 million for foreign currency.
Credit growth in the 10 months through October reached 13.5%, the National Financial Supervisory Commission said in a latest report.
Around one out of every two Vietnamese borrows money on credit, according to StoxPlus.
Vietjet and Ho Chi City Development Joint Stock Commercial Bank (HDBank) have launched a promotional programme for new customers and existing Vietjet – HDBank international co-branded credit card holders.
Deputies of the 14th National Assembly on October 26 debated the draft bill on amendments and supplements to some articles of the Law on Credit Institutions.
The National Assembly (NA) voted on the appointment of new Minister of Transport and Government Inspector General via secret ballot at its ongoing fourth session on the morning of October 26.
Credit growth of the entire banking system in the last 10 days of September rose 1.14%, pushing the total increase in the first nine months of this year to 12.16%, the latest report from the State Bank of Vietnam (SBV) showed.
The Vietnam Bank for Social Policies (VBSP) reported that the bank has provided loans to over 31.8 million poor households and policy beneficiaries since 2002.
Consumer finance is proving to be an attractive sector with the number of foreign companies rising through mergers and acquisitions, the news site cafef.vn reported.
More than 40,000 poor households in the south central province of Khanh Hoa escaped from poverty in the past 15 years thanks to the Government’s credit programme.
Credit should be given to priority areas, especially high-tech agriculture, export, small and medium-sized enterprises (SMEs), and start-ups.
Outstanding loans of commercial banks in HCM City in the first nine months of 2017 rose 13.5 percent against December last year to more than US$73.57 billion, the city People’s Committee report stated.
As the importance of small- and medium-sized enterprises (SMEs) to the Vietnamese economy grows, experts are calling on the Government to reform the system of credit guarantee funds that are designed to increase SMEs’ access to long-term financing.
Credit institutions in which the State controls over 50% of charter capital will now be subject to assessment, according to a circular drafted by the Ministry of Finance.
The State Bank of Vietnam (SBV) has approved the extension of credit growth limits for many commercial banks to support the country’s economic growth.
A high credit growth target of 21 per cent could be achieved this year, but with it come risks on credit quality and the potential for unevenly distributed loans, privileging large private firms instead of smaller ones.
Easing the lending interest rate further by 0.5% and obtaining a high credit growth rate of 21-22% as instructed by the PM will not be an easy task.
The latest instructions from Le Minh Hung, Governor of the State Bank of Vietnam (SBV), require credit institutions and commercial banks in Vietnam to strictly comply with the SBV’s regulations on mobilising capital in foreign currencies and not offer interest rates exceeding the ceiling levels.