The restructuring of the banking system is expected to experience a new turning point next year as a number of large banks consider plans to merge with other institutions.
Moody's Investors Service raised the outlook on Vietnam's banking system to stable from a negative assessment, noting a stable business climate, improved macro-economic situation and easing liquidity stress.
(VOV) - The Japan International Cooperation Agency (JICA) held a seminar in Hanoi on June 5, launching two projects to accelerate the restructuring of State-owned enterprises (SOEs) and credit organisations.
The health of the banking system has improved, with good reports coming in about asset quality, capital adequacy ratio and liquidity, according to the National Financial Supervisory Commission (NFSC).
(VOV) - The Vietnam Asset Management Company (VAMC) plans to purchase VND10 trillion of non-performing loans (NPLs) from credit organisations in the first quarter of 2014 in an effort to avert a debt default.
(VOV) - The State Bank of Vietnam (SBV) on February 21 confirmed in a press release that the non-performing loan ratio of the country’s banking system is not as high as recent Moody’s report stated.
The State Bank of Vietnam (SBV) recently instructed credit institutions to continue to ease access to loans for enterprises by lowering interest rates, in a bid to assist struggling businesses and guarantee efficient bank operations this year.
(VOV) - Leading economist Tran Du Lich warns the Vietnamese economy has yet to bottom out, saying alleviating the banking system’s non-performing loan burden—and thus facilitating capital circulation—is now the primary concern.
Vietnam treasures close cooperation and valuable support from the International Finance Corporation (IFC), affirmed Deputy Prime Minister Hoang Trung Hai.
(VOV) - The Bankruptcy Law, despite amendments in 2004 since entering into effect in 1993, is still unable to prevent many insolvent businesses from littering the national economy.
Canada will help Vietnam modernize and strengthen its banking system and financial regulations, said Canadian Foreign Minister John Baird on his visit to the country on March 12.
(VOV) - The Cambodian Government has approved plans to expand the banking system along its shared border with Vietnam to support trade activities between the two countries.
(VOV) - The banking system must apply an appropriate interest rate policy to help businesses access loans, Party leader Nguyen Phu Trong has said.
(VOV) - A number of commercial banks risk falling short of their annual profit targets after being disadvantaged by strict lending controls, low credit growth rates, and rising bad debts.
(VOV) -Vietnam has achieved a degree of macroeconomic stabilisation, but ANZ warns the shift to a banking system viable over the long term will still take time and continue to impact growth prospects.
(VOV) - Deputy Prime Minister Vu Van Ninh received Swiss ambassador Andrej Motyl in Hanoi on November 8.
(VOV) - Vietnam is on the way to achieving an annual GDP growth of 5.5 percent in 2013 and maintaining the consumer price index at around 7-8 percent.
The International Finance Corporation (IFC) will loan the Orient Commercial Joint Stock Bank (OCB) US$10 million to help small-and-medium-sized enterprises (SMEs) access credits to maintain operation in the face of the economic downturn.
A sound and efficient banking system is needed when Vietnam is transforming from a developing country into a middle income nation to better allocate social resources to suitable sectors.
The bad debt ratio of Vietnamese banks accounts for 13 percent of the total outstanding debts.