Governor of the State Bank of Vietnam (SBV) Le Minh Hung on November 17 continued taking part in lawmakers’ question-and-answer session, making clear issues relating to the baking system’s issues, including credit growth, debt rescheduling for storm victims, and credit institution restructuring.
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.
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.
VOV.VN - Finance Minister Dinh Tien Dung is the first cabinet member to answer questions raised by National Assembly deputies at the legislature's Q&A sessions, which began on November 16 in Hanoi.
The State Bank of Vietnam (SBV) agreed in principle to allow the Agricultural Bank of China to open a branch in Hanoi, Governor Le Minh Hung said.
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.
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.
According to the State Bank of Vietnam (SBV), the issuance, supplement and use of bitcoin and other similar virtual currencies for legal payment is prohibited in Vietnam.
Vietnam needs a gradual sustainable increase in forex reserves, rather than a shocking increase as seen in the last two years, according to analysts.
The State Bank of Vietnam (SBV) set its reference VND/USD exchange rate at VND22,469/USD on October 24, up by VND4 from the previous day.
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.
Record-high foreign reserves will enable Vietnam’s central bank to keep the dong, the local currency, stable for the rest of the year, Bloomberg quoted a central bank official as saying.
Adoption of appropriate policies by the State Bank of Vietnam (SBV) has helped it buy a large amount of US dollar to increase the nation’s foreign reserves, industry insiders said.
Vietnam needs experience shared by APEC member economies to promote financial inclusion, Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has said.
The current interest rate levels have been deemed appropriate for the time being, according to experts, and any attempt to further cut rates could impose unnecessary risks to Vietnam’s overall macro-economic stability in the medium term.
Most commercial banks responding to a survey by the State Bank of Vietnam (SBV) said their business performance had seen considerable improvement in the third quarter, and they expect high profits this year.
The banking sector’s total bad debts stood at 2.51 percent as of the end of July 2017, falling from 2.55 percent at the end of 2015, according to a report by the State Bank of Vietnam (SBV) to the National Assembly.
With attractive incentives from the Government, the opportunity for foreign investors to own 100% of a Vietnamese bank has never been better.
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.