Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.
Five banks have donated a total of 25 billion VND (1.07 million USD) for the fight against the new COVID-19 outbreak that is hitting Da Nang city hard, according to the State Bank of Vietnam (SBV).
VOV.VN - The price of SJC gold on the morning of July 27 reached a new record high, exceeding VND56 million per tael for the first time in domestic transaction history.
VOV.VN - The global price of gold climbed to above US$1,870 per ounce for the first time this year on July 23, prompting local gold prices to reach a new peak of over VND54 million per tael.
VOV.VN - Domestic gold prices continued to reach new highs, rising to VND52.9 million per tael on July 22, representing their highest price to date.
Domestic banks are expected to face increasing competition, especially as European banks will be able to access the Vietnamese market when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.
VOV.VN - The domestic SJC gold price moved higher to surpass VND51 million per tael for the first time on July 21, marking its highest level since August 2011.
VOV.VN - The domestic SJC gold price surpassed the VND50 million per tael mark for the first time on July 7, reaching its highest level since August 2011 in the process.
Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.
Banking, securities and insurance firms dominate Forbes Vietnam's 2020 list of top 50 listed firms with 10 representatives.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) found a place among the 1,000 largest companies in Forbes’ recent “The World’s Largest Public Companies 2020” report, released in its Global 2000 annual rankings.
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.
VOV.VN - If the ongoing COVID-19 epidemic is successfully brought under control by the end of the second quarter then it is likely that the pre-tax profits of banks will grow at an annual rate of 7.2%, with the rate drastically falling to 0.8% if the epidemic is unable to be controlled until the end of the year, according to SSI Securities Joint Stock Company.
Banking services will remain available to meet the transaction demands of businesses and individuals, according to the State Bank of Vietnam (SBV).
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has asked commercial banks to promptly to support customers affected by COVID-19.
The Government’s plans to increase capital for large State-owned commercial banks in the first quarter of this year could be delayed due to the COVID-19 outbreak, analysts predicted.
Residents in Hanoi and Ho Chi Minh City will now be able to pay registration fees for cars and motorbikes through the Government’s national public service portal, banking electronic payment channels and intermediary payment service providers.
Banks have advised account owners to be vigilant as fraudulent activities, both online and offline, are on the rise.
The Vietnamese banking sector, now undergoing drastic restructuring, will have more opportunities to improve its financial capacity as well as learn modern business models and management from their European partners after the EU-Vietnam Free Trade Agreement (EVFTA) takes effect, according to insiders.