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Central bank warns against P2P lending

Central bank warns against P2P lending

The State Bank of Vietnam (SBV) has told credit institutions to carefully consider signing cooperation deals with suppliers of peer-to-peer (P2P) lending services because of the high default risk, local media reported.

Credit growth expanded 7.33 percent in H1

Credit growth expanded 7.33 percent in H1

The banking sector reported a credit growth of 7.33 percent in the first half of this year compared to the end of 2018, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said.

Vietnam loosens bank savings rules for foreigners

Vietnam loosens bank savings rules for foreigners

The State Bank of Vietnam has issued a new circular relaxing regulations on bank deposit services for foreigners and nonresidential organizations in Vietnam, a move designed to attract idle funds from the expat community in the country.

Banks short of credit growth quota for 2019

Banks short of credit growth quota for 2019

Though there remains six months, some banks have almost used up the assigned quota for the whole year, and experts said it would be difficult for the banks to get an expansion approval from the State Bank of Vietnam (SBV).

Government advocacy represents boon to cashless payments

Government advocacy represents boon to cashless payments

VOV.VN - The Government should build up and complete centralized databases that allow connections with e-payments for public services, with the aim of giving a push to nationwide cashless transactions, Pham Tien Dung, head of the Payment Department under the State Bank of Vietnam, has suggested.

Payment means up 5 per cent in six-month period

Payment means up 5 per cent in six-month period

VOV.VN - The total means of payment rose by 5.17 per cent during the first half of 2019 compared with the end of 2018 whilst the liquidity of the credit institution system remained secure.

Credit institutions recover US$251 million of bad debts each month

Credit institutions recover US$251 million of bad debts each month

VOV.VN - Credit institutions have handled an average of VND5.8 trillion (US$251.52 million) per month since the implementation of a National Assembly resolution on the pilot settlement of bad debts began in August 2017, much higher than the figure recorded over the previous five years.

Deputy PM highlights benefits of cashless payments

Deputy PM highlights benefits of cashless payments

VOV.VN - Non-cash transactions would help cut down costs for both customers and firms while enhancing transparency in business operations and the economy at large, Deputy Prime Minister Vuong Dinh Hue said at a workshop held in Ho Chi Minh City on June 11.

Four directions set for foreign currency credit

Four directions set for foreign currency credit

VOV.VN - The State Bank of Vietnam has implemented a road map to guide the flows of foreign currency credit into four directions in a bid to deal with rising exchange rates.

Credit institutions must swing into action to boost e-payment

Credit institutions must swing into action to boost e-payment

VOV.VN - Banks and financial institutions should apply industry 4.0 technologies and find new solutions to handling risks from e-payments if they want to further develop their products and services in the local market, Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, has said.

Grab fined for VND120 million

Grab fined for VND120 million

The State Bank of Vietnam (SBV) has issued a fine of VND120 million ($5,217) to Grab (Vietnam) Ltd. due to its failure to comply with regulations relating to administrative procedures on registering loans from overseas.

Government determined to fulfil set goals: PM

Government determined to fulfil set goals: PM

Prime Minister Nguyen Xuan Phuc underscored the determination to accomplish all goals set for 2019, striving for a GDP growth of 6.8 percent and reining in inflation under 4 percent at the Government’s monthly meeting held in Hanoi on May 31.