Credit growth will be the main focus for the banking industry in 2024, as it is closely related to economic growth, according to analysts.

Deposit interest rates at four major banks of Vietnam were adjusted sharply, down by 0.4% per year from the previous listings, bringing the rate to 1.8% per year at the lowest.

VOV.VN - Police operating in Da Nang said on January 13 that they have co-operated with their counterparts in Ho Chi Minh City and the southern province of Binh Duong to bust a major loan shark ring headed by a Chinese national, whilst also arresting a total of 192 suspects.

Listed companies’ earnings growth is expected to recover from zero last year to 10-15% this year, but with a wide variation between sectors, according to Michael Kokalari, a chartered financial analyst and chief economist at VinaCapital.

The website Bloomberg.com of the US on January 8 cited analysts' opinions, saying that the State Bank of Vietnam (SBV), among the first in Asia to lower borrowing costs in 2023, willl likely keep its benchmark interest rate steady through next year as it tackles economic growth and inflation concerns.

VOV.VN - The State Bank of Vietnam (SBV) forecast that nearly VND2 quadrillion would be pumped into the national economy in 2024 to support economic recovery if the 15% credit growth target is met.

Savings interest rates have set a new record low of only 1.9% per year for a 1-2-month term.

Vietnam's corporate bonds worth VND230.2 trillion (nearly US$9.5 billion) had been redeemed before maturity by December 25, an increase of 5.8% compared to the figure in 2022, according to the Ministry of Finance.

Foreign investors are expected to plough large amounts of money into the Vietnamese property market in 2024-26.

Deposit interest rates at four major banks of Vietnam have been adjusted sharply, down by 0.2-0.4% per year from the previous listings, bringing the rate to 2.2% per year at the lowest.