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Banks forecast strong performance despite credit slowdown

Banks forecast strong performance despite credit slowdown

Most domestic credit institutions and foreign banks’ branches in Vietnam expect their business performance in 2019 to be better than last year despite the predicted slowdown in credit growth, according to the State Bank of Vietnam's latest survey released late last week.

Banks get more support to cut interest rates

Banks get more support to cut interest rates

Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Vietnam (SBV)’s agencies this week.

Banks face big capital burden despite dividend plan

Banks face big capital burden despite dividend plan

A plan to allow large Vietnamese State-owned commercial banks to pay dividends in shares or retain dividends would help them accumulate capital and meet regulatory minimum capital thresholds, Fitch Ratings has said.

Banks, insurers boost bancassurance to get returns

Banks, insurers boost bancassurance to get returns

Banks and insurance companies are ramping up cooperation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.

Banks see higher employee efficiency

Banks see higher employee efficiency

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.

SBV Governor vows to speed up settlement of weak banks, bad debts

SBV Governor vows to speed up settlement of weak banks, bad debts

Governor of the State Bank of Vietnam (SBV) Le Minh Hung was questioned on the pace of handling bad debt and banks with bad performances during the question-and-answer session on November 1 at the 14th National Assembly’s ongoing sixth session.

Banks look abroad in rush for long-term capital

Banks look abroad in rush for long-term capital

Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year.

Banks banned from disclosing client information

Banks banned from disclosing client information

The Government has issued Decree 117/2018 directing local credit institutions and branches of foreign banks to ensure that information remains confidential about their clients, and only provide information in line with the 2010 Law on Credit Institutions and relevant legal documents, reported news website VnEconomy.

Gov’t aims to boost public service payment through banks

Gov’t aims to boost public service payment through banks

The Government will continue to fine-tune legal regulations to popularise the payment of public services through banks, deputy governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh said at a forum on accelerating the payment of public services via banks held in Hanoi on August 24.

Banks eye consumer finance for bigger share

Banks eye consumer finance for bigger share

Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach VND1,000 trillion (US$4.38 billion) by 2020 and grow at 29% annually.