VOV.VN - Vietnam’s local currency bond market during the third quarter of 2019 peaked at US$55.1 billion in paper outstanding, increasing by 3.4 percent on quarter and 1.9 percent on year in local currency terms, the Asian Development Bank (ADB) noted on November 20.
The State Bank of Viet Nam (SBV) has warned local commercial banks to improve control of loans that use savings books as collateral to ensure the safety of the banking system.
Cross-ownership in the country’s banking system had almost been eliminated, a recent report by the State Bank of Vietnam (SBV) showed.
The financial capacity of Vietnam’s credit institutions has solidified in recent years, with their charter capital reaching 578.9 trillion VND (24.85 billion USD) by the end of the first quarter 2019.
Many banks have seen their employee efficiency increase significantly, with each member of staff earning them more than 1 billion VND (43,000 USD) in pre-tax profit on average last year.
Despite being seen as a potential blockchain development nation, Vietnam lacks a proper legal framework which may prevent the country maximise benefits from the emerging industry.
Credit ratings agency Moody’s Investors Service has changed its 12-18 month outlook on the Vietnamese banking system (Ba3 stable) to stable, from its earlier positive rating, according to its recent report.
Moody’s Investors Service has changed its 12-18 month outlook on the banking system in Vietnam (Ba3 stable) to stable from positive.
Vietnamese bankers have all announced that they will digitalize banking transactions, but only a few banks have kicked off the process.
VOV.VN - The recent emergence of foreign banks with capital flows pouring into Vietnamese banks has proved the attractive prospects of Vietnam’s banking system.
E-banking, the latest trend in the Vietnamese banking system, has not completely been able to replace conventional banking customs although the majority of baby boomers (those born in 1945-1960) and generation X (1961-1980) show insignificant interest in modern banking services.
The State Bank of Vietnam (SBV) will work to maintain interest rate stability, enabling firms to access credit for their production and business, SBV Governor Le Minh Hung has said.
VOV.VN -The Vietnam economy showed resilience in 2016 with GDP growth an estimated 6.2% bolstered mainly by robust domestic demand and strong performance in foreign sector manufacturing exports.
The State Bank of Vietnam (SBV) has issued a new circular to prepare for the application of BASEL II standards in the domestic banking system.
The State Bank of Vietnam (SBV) will control inflation under 4% and stabilise the macro economy to reach a GDP growth of 6.7%, as well as ensure a safe operation for the banking system, a high ranking official of the central bank said.
Chief Economist of the International Monetary Fund (IMF) Maurice Obstfeld has expressed his support for Vietnam’s reform orientations, especially in the fiscal policy and the restructuring of the banking system and State-owned enterprises.
Poor management of risks and weak supervision of banks were the roots of the largest problems that Vietnam’s banking system is facing, experts said during a workshop.
Supporting businesses is among the focal tasks of the banking system from now to 2020, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
The State Bank of Vietnam (SBV) recently issued Document No. 4393/NHNN-CSTT demanding monthly reports on lending interest rate in VND.
Vietnam is accelerating the cleanup of its financial system to help boost lending in an economy threatened by a crippling drought and lower oil revenue.