State-owned Vietcombank raised interest rates for long-term đồng deposits last week after more than a year of rates remaining unchanged.
After keeping deposit interest rates unchanged for many months, three State-owned banks with the largest share of deposits have begun to follow in the footsteps of their private competitors and hiked rates recently.
To improve openness and transparency, the Ministry of Planning and Investment, MPI, has asked contractors to make their bids accessible to the public on the National Procurement Network (NPN).
Recently Sài Gòn Thương Tín Joint Stock Commercial Bank (Sacombank) sold VNĐ2.58 trillion worth of non-performing loans to the Việt Nam Asset Management Company.
Latest instructions from Lê Minh Hưng, Governor of the State Bank of Vietnam (SBV) require credit institutions and commercial bank offices in Việt Nam to strictly comply with the SBV’s regulations on foreign currencies capital mobilisation without going over the interest rates ceiling.
Following an improvement in the first half of the year, the positive trend would continue for the banking industry in the second half thanks to high credit growth and supporting policies on settling non-performing loans (NPLs).
The State Bank of Việt Nam (SBV) has issued a draft amendment updating a new circular regulating capital ratios for the operation of credit institutions and foreign bank branches.
Vietnamese shares rose for a second day on both local markets on Thursday, driven by bank stocks on expectations that a new draft circular would help local banks operate more efficiently.
Commercial banks who have cut interest rates for short-term lending following the State Bank of Việt Nam’s cue might suffer a further decline in the net interest margin (NIM), experts said.
Relevant authorities should further monitor consumer lending as real estate loans were hidden in consumer loans, experts told Việt Nam Television.