The Bank for Investment and Development of Viet Nam (BIDV)'s foreign-currency deposit rating has been raised from B1 to Ba3 by Moody’s.

The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30%.

Outstanding loans in Vietnam exceeded VND8.79 quadrillion (US$378.74 billion) as of November 17, an increase of 7.26% from the end of 2019, according to the State Bank of Vietnam (SBV).

The Party Central Committee (PCC)'s Inspection Commission has proposed the Politburo to consider and apply a disciplinary measure against Politburo member Nguyen Van Binh, Secretary of the PCC and head of the PCC’s Economic Commission, for serious violations he committed when holding different positions some years ago.

Banks in Ho Chi Minh City are focusing on measures to mitigate the difficulties faced by businesses due to the COVID-19 pandemic and help them get back to health, a State Bank of Vietnam official has said.

Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.

Ho Chi Minh City is set to roll out a second COVID-19 aid package worth VND12 trillion (US$517 million) exclusively for small and medium-sized enterprises (SMEs).

Commercial banks are trying to boost individual consumer loans, especially to home and car buyers, since credit growth had slowed due to low capital demand from businesses.

The State Bank of Vietnam (SBV) announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.

Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.