Loose monetary policy: is it truly needed? British lender Standard Chartered Bank has cut its forecast for Việt Nam’s GDP growth this year to 4.7 per cent from its previous 6.5 per cent.

Profit down in Q3, likely to pick up in Q4: banks Commercial banks have recorded lower profit during the third quarter of the year with the underlying cause being the fourth outbreak of the novel coronavirus, which resulted in lockdowns in major cities and provinces across the country, said the latest report by the State Bank of Vietnam (SBV). 

Enterprises call for Government support due to lack of capital amid pandemic

For businesses, to resume operation, capital for production is one of the most important issues besides the shortage of labourers.

SHB expected to see breakthrough development ahead SHB is fully converging favourable factors for breakthrough growth thanks to its abundant financial health, determination to innovate comprehensively and aspiration to be a leader.

WB lowers forecast for Việt Nam’s 2021 GDP growth to 2-2.5%

World Bank continued to lower Việt Nam’s GDP growth forecast for this year to 2-2.5 per cent in its October 2021 Việt Nam Macro Monitoring.

Personal demand for deposits drops sharply Credit institutions reported that customers’ demand for banking products and services was at a low level in the third quarter compared to the previous one.

Deposit interest rate to stay low as banks keep borrowing costs down

The low interest rate for deposits is part of an effort to lower lending rates for consumers and businesses, who have been struggling during the pandemic. 

HCM City businesses propose support policies Businesses in HCM City have called for support policies to help them revive operations after disruption caused by the COVID-19 pandemic.

Q3 2021 bank profits forecast to decline by 19 per cent due to pandemic Profits of the banking industry in the third quarter of 2021 would decrease by 19 per cent compared to the previous quarter due to slowing credit growth and increasing provision expenses, Yuanta Securities Vietnam estimated.

Banks to lend $4.3 billion preferential interest rate loans Banks will lend more than VNĐ100 trillion (US$4.3 billion) with preferential interest rates of 3-4 per cent per year to support the economy, according to Nguyễn Tuấn Anh, director of State Bank of Vietnam (SBV)’s Credit Department of Economic Sectors.