President of the Lao State Inspection Authority Khamphan Phommaphat on June 1 worked with leaders of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Vietnam Electricity (EVN) as part of his visit to Vietnam.

Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.

Vietnam's index of industrial production (IIP) in February rose by 8.5% year-on-year, marking the fourth consecutive monthly increase, according to the Ministry of Industry and Trade (MoIT).

Profits of the banking industry in the third quarter of 2021 would decrease by 19% compared to the previous quarter due to slowing credit growth and increasing provision expenses, Yuanta Securities Vietnam estimated.

Most banks have agreed to cut the lending rate for enterprises hard hit by the COVID-19 pandemic from this month until the end of this year.

The Government has directed the State Bank of Vietnam (SBV) to add non-performing loan (NPL) settlement regulations under Resolution No.42/2017/QH14 into the revised Law on Credit Institutions, SBV Deputy Governor Nguyen Kim Anh has said.

The State Bank of Vietnam (SBV) urged the banking industry to build an inclusive finance system that serves all members of society in Vietnam in Hanoi on September 10.

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.