Detailed policies needed to help firms get loans

Many businesses suggested more detailed policies should be issued to help them access bank loans as there remain difficulties in lending.

Pandemic spurs digital banking transformation, helps create new services he pandemic has forced the banking sector to speed up digitalisation and contactless banking, said Nguyễn Quốc Hùng, general secretary of the Vietnam Banks Association during an online conference on the digitalisation of banking and finance in Việt Nam on Thursday. 

State Bank agrees to extend debt rescheduling for six months The State Bank of Việt Nam (SBV) agreed to extend debt rescheduling for businesses for a further six months until June 30, 2022.

Vietnam Banks Association urges Visa, Mastercard to reduce fees The Vietnam Banks Association (VNBA) has urged international card organisations Visa and Mastercard to reduce several types of fees on Vietnamese banks amid the fourth wave of COVID-19 pandemic in Việt Nam.

Banks continually cut lending rates to aid pandemic affected customers Commercial banks have continuously announced lending interest rate reductions to support and accompany customers to overcome the adverse impacts of the COVID-19 pandemic.

Commercial banks urged to meet rate cut commitments The State Bank of Vietnam (SBV) has requested commercial banks to reduce lending interest rates as per previous commitments. 

Gov't to roll out US$5.2 billion COVID-19 relief package The government is to roll out a VND118 trillion (US$5.2 billion) COVID-19 relief package by the end of the year, said deputy minister of finance Nguyễn Đức Chi during a government meeting yesterday. 

Airline industry at breaking point as virus strikes again1 Việt Nam's airline industry is facing its worst crisis yet since the beginning of the COVID-19 pandemic, an online conference on financial solutions to keep the industry afloat during this difficult time has been told.

Solutions proposed to handle bad debts amid COVID-19 pandemic

Bad debts may climb by the end of the year as the pandemic has interrupted production of many enterprises and they had no revenue to repay debts. 

Sacombank double winner at 2019 Vietnam Outstanding Banking Awards Sacombank has won Vietnam Outstanding Banking Awards for 2019 in the Outstanding Retail Banking and Outstanding E-banking categories.