Consumer loans have increased sharply in Ho Chi Minh City in recent years, said Nguyen Hoang Minh, Director of the State Bank of Vietnam’s HCM City Branch.
Sacombank has set aside 3 trillion VND (132.15 million USD) for preferential loans to household businesses, small traders and firms converted from household businesses in HCM City.
A draft Law on Public Debt Management was adopted on November 23 at the 14th National Assembly’s fourth session with 85.74 percent of “yes” votes.
Ho Chi Minh City has started laying out the groundwork for a water pipeline that will run over 10 kilometers (6 miles) from its outskirts to the inner-city.
Exporters will no longer be allowed to borrow bank loans in foreign currencies beginning next year, if the State Bank of Vietnam (SBV) does not extend a circular regulating the loans.
Minister of Finance Dinh Tien Dung pointed out shortcomings in public debt management and put forth solutions to overcome in the coming time while answering questions raised by lawmakers at the fourth session of the 14th National Assembly in Hanoi on November 16.
Aiming to reach the target to complete the selection the strategic investors before listing shares on the stock exchange, domestic banks are accelerating negotiations with foreign investors as well as propose the authorities to increase the foreign ownership limit to lure in foreign investors.
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.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) posted a pre-tax profit of VND5.6 trillion (US$246.8 million) in the first nine months of the year, a 79% year-on-year increase and reaching the top three of country’s banks following Vietcombank and Vietinbank.
Exporters will no longer be allowed to borrow bank loans in foreign currencies beginning next year, if the State Bank of Viet Nam (SBV) does not extend a circular regulating the loans.
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.
Over 124,000 households in the Mekong Delta province of Soc Trang have escaped poverty thanks to State preferential loans over the past 15 years.
Small and medium-sized enterprises (SMEs) must improve their transparency to enable them to access banking credits, experts said at a conference on October 5.
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.
Nonperforming loans (NPLs) must be revolved at the earliest, especially in the banking and financial sector, in order to strengthen Vietnam’s economy, ensure efficiency and boost effectiveness in capital allocation, a World Bank Group (WBG) official told a seminar on September 26.
Over 30 million poor households and other welfare beneficiaries have accessed soft loans from the Vietnam Bank for Social Policies (VBSP) as of the end of August 2017, according to the VBSP.
Nearly 132,000 households in the Central Highlands province of Gia Lai have escaped poverty thanks to State preferential loans over the past 15 years.
A delegation of lawmakers will supervise the implementation of laws and policies on the management and use of foreign loans.
The Vietnam Asset Management Company (VAMC) will need more capital to further benefit from the National Assembly’s recent resolution on the settlement of non-performing loans (NPLs), experts said.