Tags: credit institutions

Central bank warns against P2P lending

Central bank warns against P2P lending

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.

Credit institutions recover US$251 million of bad debts each month

Credit institutions recover US$251 million of bad debts each month

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 must swing into action to boost e-payment

Credit institutions must swing into action to boost e-payment

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.

Funding capacity, asset quality of banks improves

Funding capacity, asset quality of banks improves

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.

Bad debt handling to be audited

Bad debt handling to be audited

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).

Credit institutions expect better results in Q2

Credit institutions expect better results in Q2

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.

Credit institutions hope for good business in Q2, 2018

Credit institutions hope for good business in Q2, 2018

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 expected to shuffle leaders in 2018

Banks expected to shuffle leaders in 2018

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.

Over US$2.2 billion spent on national target programmes

Over US$2.2 billion spent on national target programmes

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.

Law on credit institutions takes effect

Law on credit institutions takes effect

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.