Fifteen among 22 targets set in the National Assembly’s Resolution 24/2016/QH14 on economic restructuring during 2016-2020 have been or are likely to be fulfilled in 2020, according to the Government’s report presented to the legislature’s ongoing session.

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.

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 Ministry of Culture, Sports and Tourism has asked Prime Minister Nguyen Xuan Phuc for urgent support for tourism businesses impacted by the second wave of COVID-19.

Vietnam’s current account surplus could narrow to 3.7% in 2020 from 4.9% last year due to the impacts of the COVID-19 pandemic, according to Fitch Solutions.

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

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.

VOV.VN - The Ministry of Finance of Vietnam and the Treasury of New Zealand signed a Memorandum of Understanding (MoU) outlining future financial cooperation at a ceremony in Hanoi on July 23.

A number of banks have announced plans to auction off their collateral assets in an attempt to speed up bad debt recovery.