Some credit institutions (CIs) that have not yet completed their restructuring roadmap will have to speed up the process to meet the State Bank of Vietnam (SBV)’s deadline this year.
Most of credit institutions have expected better business performance for the fourth quarter as well as the whole of 2019, according to a recent survey by the State Bank of Vietnam.
The State Bank of Vietnam (SBV)’s Governor or the directors of SBV’s municipal and provincial branches will be able to lace credit institutions under the SBV’s special control, starting from next month.
Resident and non-resident foreigners in Vietnam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers, the State Bank of Vietnam has said.
The State Bank of Vietnam (SBV) has told credit institutions to carefully consider signing cooperation deals with suppliers of peer-to-peer (P2P) lending services because of the high default risk, local media reported.
VOV.VN - Credit institutions have handled an average of VND5.8 trillion (US$251.52 million) per month since the implementation of a National Assembly resolution on the pilot settlement of bad debts began in August 2017, much higher than the figure recorded over the previous five years.
Credit institutions have assisted households affected by African swine fever (ASF) with 357 billion VND (15.35 million USD), heard a press conference in Hanoi on June 13.
The National Credit Information Centre of Vietnam (CIC) and the State Bank of Vietnam (SBV) has officially launched a portal connecting borrowers and credit institutions.
VOV.VN - Banks and financial institutions should apply industry 4.0 technologies and find new solutions to handling risks from e-payments if they want to further develop their products and services in the local market, Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, has said.
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.
Despite credit growth among Vietnamese credit institutions remaining low this year, experts are not concerned about the slowdown, saying it was a good sign for the economy.
The handling of bad debt among credit institutions would be audited this year in order to formulate recommendations for effectively implementing a National Assembly resolution, according to the State Audit Office of Vietnam (SAV).
VOV.VN - As many as 81 per cent of local credit institutions put high hopes on further improvement in their operations in the first quarter of 2019 whilst 88 per cent of them expect their business for the whole year to get better against the previous year, according to a recent insightful survey.
Most of credit organisations expect their business performance will keep improving in 2019, according to the central bank’s Monetary Forecasting and Statistics Department.
A majority of credit institutions expect business performance this year will be better than 2017, according to the latest survey conducted by the State Bank of Vietnam on business trend among credit institutions in September.
The State Bank of Vietnam (SBV) has asked credit institutions to review the implementation of its regulations on consumer loan management.
Up to 75% of credit institutions expected better results in the second quarter of this year, while 84% hoped their business performance throughout 2018 to improve further compared to 2017, of this, 28% anticipated “significant improvement”.
Banks are expected to make major changes in the selection of their top personnel for the upcoming term from 2018 to 2023 to meet the Government’s new regulation.
As much as 51.7 trillion VND (2.25 billion USD) of the State budget was spent on implementing national target programmes in 2017, including 15.2 trillion VND (664.2 million USD) sourced from the central budget and 11 trillion VND (480.7 million) of investment capital for development.
Many businesspeople, who hold leadership positions at both banks and other firms, have decided to give up their positions in enterprises and keep the banking management positions to meet a new Government regulation.