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Business, bank restructuring efforts receive a boost

Business, bank restructuring efforts receive a boost

(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.

Vital indications of banking improve

Vital indications of banking improve

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).

VAMC to purchase VND10 trillion of debts in Q1

VAMC to purchase VND10 trillion of debts in Q1

(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.

Central bank refutes Moody’s NPL report

Central bank refutes Moody’s NPL report

(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.

Banks urged to lower interest rates

Banks urged to lower interest rates

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.

Economist cautions against rash 2014 optimism

Economist cautions against rash 2014 optimism

(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 praises IFC’s support

Vietnam praises IFC’s support

Vietnam treasures close cooperation and valuable support from the International Finance Corporation (IFC), affirmed Deputy Prime Minister Hoang Trung Hai.

Bankruptcy law needs revising

Bankruptcy law needs revising

(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 to help Vietnam reform banking system

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.

Initial success in macroeconomic stabilisation

Initial success in macroeconomic stabilisation

(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.

IFC supports businesses with US$10 million

IFC supports businesses with US$10 million

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.

Banking system needs to be restructured

Banking system needs to be restructured

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.

Bank governor introduces reform programme

Bank governor introduces reform programme

A healthy banking system will be formed and be able to operate well amidst fierce competitions and global market complications, according to State bank governor Nguyen Van Binh.