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Central bank issues roadmap for ATM card upgrades

Central bank issues roadmap for ATM card upgrades

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.

Economic growth could reach 6.9% in 2019: VEPR

Economic growth could reach 6.9% in 2019: VEPR

Vietnam’s economic growth could reach 6.9 per cent in 2019, an increase of 0.1 per cent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Vietnam is benefiting from the US-China trade war.

PM Nguyen Xuan Phuc hails Vietnam-Laos banking cooperation

PM Nguyen Xuan Phuc hails Vietnam-Laos banking cooperation

Prime Minister Nguyen Xuan Phuc lauded the diverse and intensive cooperation between the State Bank of Vietnam (SBV) and the Bank of the Lao PRD (BOL) in recent years while receiving BOL Governor Sonexay Sitphaxay in Hanoi on January 9.

SBV sets 2019 credit growth target at 14%

SBV sets 2019 credit growth target at 14%

The State Bank of Vietnam (SBV) has set the 2019 credit growth target equivalent to the previous year at about 14%, according to SBV Deputy Governor Nguyen Thi Hong.

This year’s CPI expands 3.54% from 2017: GSO

This year’s CPI expands 3.54% from 2017: GSO

2018 is considered a successful year in controlling inflation as the average consumer price index (CPI) rises by 3.54% from 2017 and 2.98% from last December, meeting the CPI growth target of under 4%.

Solutions to helping end loan-sharking: conference

Solutions to helping end loan-sharking: conference

Increasing the limits of unsecured loans given by banks will prevent people from approaching loan sharks, an online conference hosted by the State Bank of Vietnam (SBV) heard on December 26.

Central bank warns of P2P lending

Central bank warns of P2P lending

The State Bank of Vietnam (SBV) has warned local people and firms to consider carefully and be cautious before taking part in peer-to-peer (P2P) lending as there are many potential risks related to the service.

Vietnam to have first domestic chip cards in Q1 2019

Vietnam to have first domestic chip cards in Q1 2019

Vietnam’s first domestic chip cards will be launched in the first quarter of 2019 to enhance safety and service quality of the country’s bank card operations, according to the National Payment Corporation of Vietnam (NAPAS).

No sudden impacts on Vietnam from FED rate hike

No sudden impacts on Vietnam from FED rate hike

The Vietnamese monetary market will not suffer from any significant impact from the US Federal Reserve (FED)’s fourth interest rate hike in 2018 as the move was already expected, experts have said.

Black market vendors stain New Year rite

Black market vendors stain New Year rite

Over the past few years, the State Bank of Vietnam has been setting aside great amounts of fresh bills to meet the local demand of giving banknotes to children and donating money to temples for the New Year, allowing people to exchange banknotes without a surcharge at commercial banks.

Court reduces penalty on former central bank deputy governor

Court reduces penalty on former central bank deputy governor

The high-level court in Ho Chi Minh City on December 10 reduced sentences for former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh and two other defendants involved in the losses of over VND15 trillion (nearly US$645.8 million) at the Vietnam Construction Bank (VNCB).

Property firms look to stocks for capital

Property firms look to stocks for capital

With banks tightening credit to the property sector, developers should look at the stock market for capital, experts told a workshop on “Potential and opportunities for investment in property stocks on November 30.

Forex lending to continue next year

Forex lending to continue next year

The State Bank of Vietnam (SBV) is drafting a new circular on foreign currency lending, allowing credit institutions and foreign bank branches to extend loans to some borrowers in 2019 instead of cutting them off at the end of this year as planned.

SBV urges customer information security

SBV urges customer information security

The State Bank of Vietnam (SBV) has issued a decree asking businesses to enhance customer information privacy after an alleged breach of mobile retail chain The Gioi Di Dong (Mobile World) revealed personal information of more than five million customers.

Banks expect higher credit growth limits

Banks expect higher credit growth limits

More commercial banks expect their credit growth limits to be expanded this year after Techcombank became the first to get the nod to do so from the State Bank of Vietnam (SBV) recently.

Banks key in country’s green growth strategy

Banks key in country’s green growth strategy

The banking sector plays a key role in “green” investment, including directing credit flow into environmentally-friendly sectors and restricting flow into projects which might have negative impacts on the environment.