Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.

The State Bank of Vietnam (SBV) has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.

The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16.

VOV.VN - With the EU representing a meticulous market, there is no room for impatient businesses that show a lack of creativity or have poor-quality goods, meaning that local firms must be proactively innovative with their product quality.

There has been a major reshuffle in profit rankings at the top of the banking industry due to the effects of the pandemic and provisioning for bad debts.

Vietnam has seen a digital wave in the finance-banking industry, with many lenders investing significantly in digitisation, experts have said.

The International Finance Corporation (IFC) – a member of the World Bank Group – will provide another US$40 million for the Orient Commercial Bank (OCB) to help with the support of COVID-hit clients, especially small and medium enterprises (SMEs).

VOV.VN - With national demand for electricity growing by 10.6% in the 2016 to 2020 period, with further growth of 8.5% expected in the 2021 to 2025 period, the country is becoming an attractive market for both domestic and foreign energy investors.

VOV.VN - The World Bank and the State Bank of Vietnam on July 30 signed a US$6.2 million grant agreement to strengthen Vietnam’s coronavirus surveillance and testing capacities, research capacity for COVID-19 vaccines and test kits.

Standard Chartered Bank expects Vietnam’s growth to slow to a multi-year low of 3% this year on soft external demand, with external headwinds set to offset domestic outperformance.