Finance-Banking

The State Bank of Vietnam (SBV) on November 28 announced it would increase credit growth target for credit institutions, for the second time this year.

Prime Minister Pham Minh Chinh on November 27 ordered the Governor of the State Bank of Vietnam (SBV) to outline solutions aimed at improving credit management for 2024 in the face of evolving global economic challenges.

(VEN) - To ensure the sufficiency of loans for manufacturing businesses toward year’s end, many credit institutions in Bac Ninh Province have launched new credit packages with preferential interest rates.

The Mekong Delta contributes 95% of Vietnam’s rice exports and accounts for 60% of the country’s total seafood export value. Recently, fruit exports have shown strong growth, with various fruits entering new markets. However, numerous credit-related obstacles are creating challenges regarding agricultural production loans in the region.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HoSE: HDB) has received three prestigious awards at the Vietnam Listed Company Awards 2024, highlighting its leadership in the banking sector, as well as its dedication to transparency and governance.

Vietnam International Bank (VIB) has announced a partnership with Flywire, a global payments enablement and software company based in Boston, to enable Vietnamese payers to digitally pay international education-related fees in their local currency to higher education institutions all over the world.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND worth of green bonds, the first of its kind, to support eco-friendly projects.

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

S&P Global Ratings has reaffirmed Techcombank’s issuer rating of BB- with a “stable” outlook, highlighting the bank’s robust profitability, stable capitalisation and strong asset quality.

The General Department of Taxation on November 7 reported that the total state budget collection of the sector in January – October was estimated at over 1.4 quadrillion VND (55.18 billion USD), or 94.8% of the annual projection and up 16.3% against the same time last year.

The swift efforts by the Vietnamese securities regulator to eliminate pre-funding requirements have garnered praise from FTSE Russell and Morgan Stanley.

Ayudhya Public Bank Limited (Krungsri), a member of Japan's MUFG Group, has proposed to the Saigon - Hanoi Commercial Joint Stock Bank (SHB) that it will speed up the acquisition of the remaining 50% of SHBFinance’s charter capital.

The Ministry of Finance has released two price management scenarios to control inflation until the end of the year.

Affordable bank credit has supported businesses in key sectors that drive the country’s economic growth, Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City office, told a conference on October 31.

While accelerating digital transformation, ensuring operational safety and information security is a priority. The remark was made by Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banks’ Association (VNBA) at the Smart Banking 2024 workshop and exhibition held in Hanoi on October 29.

Việt Nam is expected to continue pursuing a looser monetary policy, with interest rates forecast to decrease by 0.7 percentage points next year.

With the theme "Pioneering in Green Investment", the Vietnam Excellent Brands Program 2024 conducted a survey, evaluated and honored business brands with outstanding achievements in production, business, trade and service activities towards green growth and sustainable development.

Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.

Prospects for credit growth and exchange rates will create favourable conditions for non-bank corporate bonds to recover in the final months of this year, analysts forecast.

(VEN) - According the State Bank of Vietnam’s (SBV) leadership, with the current growth rate and overall economic trends, Vietnam’s 15-percent credit growth target for 2024 is within reach. However, the SBV emphasized that the key is to focus credit growth on boosting the economy, particularly prioritizing support for trading and production activities.

In a move to restructure the credit institution system and tackle bad debts, the State Bank of Vietnam (SBV) has announced the mandatory transfer of two major banks.

The State Bank of Vietnam (SBV) has issued a document requesting banks and credit institutions apply measures to boost consumption and spending.

(VEN) - Asian stock markets fell sharply after a tech sell-off on Wall Street, which raised concerns about the sustainability of artificial intelligence (AI) stocks.

Eximbank has refuted rumours circulating on social media about an 'urgent petition and reflection' allegedly citing severe risks that could lead to operational insecurity and a potential system collapse at the bank.

The Vietnamese stock market marked a significant turning point after a prior correction phase, with a remarkable recovery in the past trading week.

HCM City is focusing more on attracting remittance from overseas Vietnamese into the city’s socio-economic development through many policies, including issuing bonds for infrastructure projects.

Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.

Development Investment Construction (DIC Corp) said that it has fully redeemed the bonds it issued in September 2021.

Manulife Vietnam and Techcombank on Monday announced updated information on their exclusive insurance distribution partnership in Việt Nam.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and LOTTE C&F Vietnam Co., Ltd held a ceremony on September 27 for the signing of a MOU on optimising theirs resources, promoting sustainable growth, and bringing flexible, economical and effective consuming finance solutions to LOTTE customers.