Outstanding credit of the banking system is forecast to increase 4.4% in the first quarter and 14.2% in 2024, up 0.4 percentage point from the previous prediction of 13.8%.
Besides interest and exchange rates, non-performing loans (NPLs) are also a concern for banking activities in the remaining months of 2022, experts have warned.
In the face of rising bad debt amid the ongoing COVID-19 pandemic, commercial banks have been forced to write up their loan loss provisions, according to industry sources.
Commercial banks have made public the sale of unsecured consumer debt for the first time in the country.
The State Bank of Vietnam (SBV) has requested local credit institutions and foreign banks’ restrict lending concentration for real estate and construction and consumption sectors, and Build-Operate-Transfer (BOT) projects.
A number of banks recorded impressive growth in the first quarter and set a relatively strong profit growth target this year.
VOV.VN - The State-run Vietnam Asset Management Company (VAMC) has initiated plans to establish a debt trading floor over the next five years to deal with commercial banks’ non-performing loans and attract investors.
Prime Minister Nguyen Xuan Phuc on November 16 presented the State President’s decision to appoint Nguyen Thi Hong as the Governor of the State Bank of Vietnam (SBV).
Non-performing loans (NPLs) among commercial banks increased sharply in the first three quarters of this year due to the adverse impacts of the COVID-19 pandemic.
The COVID-19 pandemic is weighing on the banking system’s non-performing loans (NPLs), requiring significant efforts to keep NPLs ratio below 3% by the end of this year as targeted by the Government.