Vietnam posts H1 credit growth of 7.33 pct

In respond to Vietnam's inclusion in a U.S. currency manipulation watchlist the SBV says the country seeks no unfair advantage over other countries.

The banking sector managed to keep its internal bad debts ratio below 3 percent at the end of Q1, according to the central bank.

The central bank plans to sell OceanBank, one of the country’s three weakest lenders, to a foreign investor.

Unusually, Vietnamese banks’ dollar prices have been higher than the free market as they face a dearth of greenbacks.

The Vietnamese dong continued to fall against the U.S. dollar, going beyond its lowest level ever recorded on April 24. 

The Vietnamese dong has fallen to its lowest level ever against the U.S. dollar, and banks are fixing their exchange rates accordingly.

With the government seeking to clamp down on cash loans given by finance companies, there are fears their bottom lines might be hit.

The State Bank of Vietnam targets credit growth of 14 percent this year, the same as last year.

The central bank has said it will inspect banks with large lending portfolios in real estate and stock markets.

The dong has fallen against the U.S. dollar with the exchange rate hitting the lowest in years, but the central bank said the rate is “under control.”

The Vietnamese dong has been losing ground against the U.S. dollar in the last few days as the central bank lowered its reference rate.

Bad debts accounted for 2.18 percent of total lending at the end of the first quarter of 2017.

The Ministry of Health finished at the bottom of the index.