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2019 credit growth lowest in 5 years

2019 credit growth lowest in 5 years

Vietnam’s banking sector recorded a credit growth of 13.5 percent year-on-year in 2019, the lowest since 2014.
Central bank cuts compulsory reserve interest rates

Central bank cuts compulsory reserve interest rates

The State Bank of Vietnam (SBV) announced Monday it has lowered the interest rates on compulsory reserves at banks by 0.4 percentage points.
December 03, 2019 | 08:00 pm GMT+7
‘Big 4’ banks low on capital, could stop lending

‘Big 4’ banks low on capital, could stop lending

Vietnam’s four major state-owned banks might have to stop lending due to their low capital adequacy ratios, a central bank official has warned.
December 03, 2019 | 12:01 pm GMT+7
Central bank continues to tighten screws on property companies

Central bank continues to tighten screws on property companies

Vietnam’s central bank plans to gradually reduce the rate of short-term deposits used for medium- and long-term loans, which go mostly to property companies.
November 25, 2019 | 01:48 pm GMT+7
Central bank lowers ceiling on short-term interest rates

Central bank lowers ceiling on short-term interest rates

The State Bank of Vietnam (SBV) has lowered the interest rate cap on 6-month dong deposits from 5.5 percent to 5 percent, effective Tuesday.
November 19, 2019 | 06:00 pm GMT+7
Banks restrict lending as credit growth ceiling nears

Banks restrict lending as credit growth ceiling nears

Many commercial banks in Vietnam are tightening lending as they reach their designated credit growth, eliciting complaints from customers.
November 19, 2019 | 11:54 am GMT+7
Vietnam mulls 49 percent cap on foreign ownership at e-payment firms

Vietnam mulls 49 percent cap on foreign ownership at e-payment firms

Vietnam’s central bank wants to cap foreign ownership at 49 percent for e-payment companies to foster domestic fintech enterprises.
November 07, 2019 | 10:12 am GMT+7
Vietcombank first local lender to open Australia branch

Vietcombank first local lender to open Australia branch

Vietcombank, one of Vietnam’s leading banks, has received approval from the central bank to open a branch in Australia.
October 11, 2019 | 07:26 pm GMT+7
Vietnam central bank clamps down on foreign currency borrowing for imports

Vietnam central bank clamps down on foreign currency borrowing for imports

In a bid to limit dollarization, the State Bank of Vietnam has banned medium and long-term lending in foreign currency to pay for imports.
September 30, 2019 | 08:21 pm GMT+7
Vingroup unit licensed to offer e-wallet services

Vingroup unit licensed to offer e-wallet services

Vingroup’s loyalty program VinID has been permitted to operate e-wallet services, furthering the private conglomerate’s foray into cashless payment.
September 24, 2019 | 07:00 pm GMT+7
Central bank cuts interest rates by 0.25 percentage points

Central bank cuts interest rates by 0.25 percentage points

The State Bank of Vietnam announced Friday it would cut various interest rates to maintain macroeconomic stability, support economic growth and control inflation.
September 13, 2019 | 04:38 pm GMT+7
Central bank warns against high deposit rates

Central bank warns against high deposit rates

The central bank has threatened to sanction banks offering high interest rates on deposits fearing a race could destabilize the banking sector.
August 28, 2019 | 06:08 pm GMT+7
Vietnam posts H1 credit growth of 7.33 pct

Vietnam posts H1 credit growth of 7.33 pct

Credit grew 7.33 percent in the first half of 2019, slightly higher than 6.14 percent in the same period last year, according to the central bank.
July 06, 2019 | 07:36 am GMT+7
Vietnam ready to speed up switch to chip cards

Vietnam ready to speed up switch to chip cards

The National Payment Corporation of Vietnam says many banks would this year convert their magnetic cards to chip cards for greater security.
May 31, 2019 | 04:12 pm GMT+7
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