Credit growth in the next three to five years is forecast to be around 14% per year, lower than the average rate of 18.1% in the 2015-17 period.
The top 100 products and services in 2018 selected by consumers were announced at a ceremony in Ho Chi Minh City on November 29.
The Ministry of Public Security announced on November 29 that its Police Investigation Agency has detained and searched the homes of four people for their suspected involvement in legal violations via banking operations at the Bank for Investment and Development of Vietnam (BIDV).
The banking sector has been on the recovery path after a tough time struggling with bad debt (2012-2014), especially since 2016. This comeback has been assisted by foreign investors in local banks.
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.
Many banks have issued a large amount of bonds to raise capital in a move to meet high demand during year-end’s peak lending season and prepare to meet the State Bank of Vietnam (SBV)’s regulations on tightening the use of short-term funds for long-term loans from early next year.
The Bank for Investment and Development of Vietnam (BIDV)’s pre-tax profit increased by 30.6% year-on-year to VND7.2 trillion (US$305.45 million) in the first three quarters of 2018.
Vietnam’s finance and banking sector has reduced its ratio of non-performing loans (NPLs) – including both NPLs owned by credit institutions and the Vietnam Asset Management Company – from 17.2% in 2012 to 6.7% at the end of June 2018.
Economists at the Bank for Investment and Development of Vietnam (BIDV) have played down the possible repetition of the 10-year economic crisis cycle in the 2018-2019 period, according to a recent report released from its research center.
The Government is directing ministries and agencies to raise capital for State-owned commercial banks through the use of dividends or share sales this year, Deputy Prime Minister Vuong Dinh Hue said at a recent meeting.
Moody’s Investors Service has taken rating actions on 14 Vietnamese commercial banks in its latest report issued on August 14.
VOV.VN - Nearly one-third of businesses paying the most tax in 2017 belonged to the banking sector, according to statistics from the Ministry of Finance.
Financial leasing is an effective solution to solving medium- and long-term capital shortages for local businesses, head a conference held by the BIDV-SuMi TRUST Leasing (BSL) in Ho Chi Minh City on August 1.
The Bank for Investment and Cooperation of Vietnam (BIDV) and four banks of Japan’s Resona Group have signed a cooperation agreement on supporting Japanese firms in Vietnam.
Jetstar Pacific is now Vietnam’s first low-cost airline to apply QR code technology, allowing cardless payments for online ticket bookings.
Commercial banks have yet to be allowed to hike fees for ATM cash withdrawals, the State Bank of Vietnam (SBV) announced on July 10.
The prosperity of the stock market in 2017 and the first months of 2018 has helped banks increase accumulated capital.
The Vietnamese economy is enjoying stronger growth compared to 2017 with increasing foreign reserves and tight control of foreign debt, said Fitch experts at the “Fitch on Vietnam” forum held in Hanoi on June 8.
Vietnamese enterprises invested nearly US$184.7 million in overseas projects in the first five months of 2018, according to the General Statistics Office (GSO) under the Ministry of Planning and Investment.
Two primary and secondary schools, funded by the Bank for Investment and Development of Vietnam (BIDV), were put into use in Ly Son island district, the central province of Quang Ngai on May 30.