PM Phúc said VN does not devaluate currency, urges objective assessment from the US

Prime Minister Nguyễn Xuân Phúc on Monday told the visiting CEO of the U.S. International Development Finance Corporation Adam Boehler that Việt Nam does not devaluate its đồng currency to generate unfair trade advantage.

Banks start to report business performance Some commercial banks have started to release business results from the first nine months of this year.

Samsung eyes conversion into export processing firm

The Hồ Chí Minh City People’s Committee has this month submitted a proposal to the Government seeking approval for Samsung CE Complex Electronics Co. Ltd (SEHC Company) to convert into an export processing enterprise.

Despite lower interest rates, people still put money in banks

Though the deposit interest rates of commercial banks have been reducing, people are still putting their money into banks amid the pandemic.

Low-cost capital source drops sharply in many banks

Many banks have no longer benefit from demand deposits as the low-cost capital source has tended to decline sharply due to the impacts of the COVID-19 pandemic.

Bad debts tend to rise despite slow credit expansion Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.

Organisations rush to sell Sacombank shares to retrieve debts Some organisations rush to sell shares of Sài Gòn Thương Tín Commercial Joint Stock Bank (Sacombank) to retrieve bad debts, but it was not easy to find buyers agreeing the offered price.

Low economic outlook drags on local shares Market sentiment returned the caution territory on worries about the economy growth.

Banks step up bad debt resolution Some banks are speeding up the recovery of non-performing loans (NPLs) this year despite the impacts of the COVID-19 pandemic.

Banks continue to depreciate the greenback After four sessions of appreciating the US dollar against the Vietnamese đồng, the State Bank of Việt Nam (SBV) adjusted the greenback down on Tuesday, while commercial banks followed the trend.