Hanoi maintained second place among Vietnam’s 63 centrally-run cities and provinces in the Public Administration Reform (PAR) Index 2019, which the city’s leader attributed to firm moves made over recent years.
Total assets of credit institutions and foreign banks in Vietnam by the end of the first quarter of this year inched down 0.72% to VND12.48 quadrillion (US$521.76 billion) compared to the end of last year.
Governor of the State Bank of Vietnam (SBV) Le Minh Hung has called on commercial banks to urgently simplify lending procedures to help COVID-19-affected firms easily access preferential interest rate loans.
Fitch Ratings has recently revised the outlook on long-term issuer default ratings of two State-owned banks, and a wholly foreign-owned bank in Vietnam, to stable from positive, and the outlooks for two joint stock commercial banks to negative from stable.
VOV.VN - The Vietnam Institute for Economic and Policy Research (VEPR) joined with the Konrad Adenauer Stiftung to co-host a workshop in Hanoi which unveiled the Quarter I Independent Assessment of Vietnam’s Macroeconomic Performance, with several senior economic experts also participating in the event.
VOV.VN - Providing credit support packages to help key industrial enterprises maintain their operations amid the COVID-19 epidemic and overcome this challenging period should be considered the most pressing matter moving forward, according to the Ministry of Industry and Trade.
Many banks in Vietnam have reduced their profit target for 2020, and plan to support companies severely impacted by the COVID-19 pandemic.
Despite being slow, credit growth of the banking system in March recovered compared with the first two months of this year.
To encourage customers to deposit money online amid the COVID-19 pandemic, many banks have raised interest rates for online savings by up to 1.4% higher than over-the-counter deposits.
Incomplete statistics show that businesses have enjoyed cuts of at least VND100 trillion (US$4.25 billion) to support them amid the COVID-19 pandemic.
Banking services will remain available to meet the transaction demands of businesses and individuals, according to the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV) on March 31 issued a directive to reduce the fees for transactions via interbank electronic payment system by 50% for local banks.
VOV.VN - Despite banks making moves to lower annual interest rates by up to 1.5% whilst simultaneously offering a range of support packages, many businesses have no need for loans in the current climate due to the consumption market facing plenty of difficulties.
The State Bank of Vietnam (SBV) has said it is ready to intervene in the market when the intervention rate is lower than the current listed exchange rate on a large scale by spot or forward transactions to stabilise the foreign exchange market and the macro-economy.
The State Bank of Vietnam (SBV) will cut its policy rates starting from March 17 in an attempt to support the economy which has been hurt by the COVID-19 outbreak.
The State Bank of Vietnam (SBV) is to make decision soon on cutting the prime interest rate, the bank’s Deputy Governor Dao Minh Tu said at a meeting on March 12.
The State Bank of Vietnam (SBV) has urged domestic and branches of foreign credit institutions to offer a cut in loan interest rates for businesses affected by the acute respiratory disease caused by the SARS-CoV-2 (COVID-19) which is taking toll on the regional economies.
The Government has decided to allow Vietcombank and Vietinbank to increase their charter capital by 10 trillion VND (434.8 million USD) in the first quarter of this year, Deputy Prime Minister Vuong Dinh Hue said last month.
The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.
In response to the State Bank of Vietnam (SBV)’s appeal, a number of credit institutions have announced plans to support businesses affected by the novel coronavirus (nCoV) epidemic.