Bad debts situation getting worse
Bad debts always come hand in hand with business activities of all commercial banks.
PM underlines banking system's role as arteries of economy
Prime Minister Pham Minh Chinh said the banking system plays the role as arteries of the economy while addressing a meeting with chairpersons and CEOs of commercial banks in Hanoi on October 16.
SBV approves credit growth target adjustment for several credit institutions
This morning, the State Bank of Vietnam (SBV) said that its has sent a notice to credit institutions approving their proposals to adjust credit growth target in 2022.
State Bank of Vietnam considering online loan facility
The State Bank of Vietnam has plans to offer e-lending facilities and has recently made amendments to a draft for Circular 39/2016/TT-NHNN for the supplementing of a number of articles in it. This will pave the way for commercial banks to compete with several booming online lending platforms in the market today.
HCMC Chairman directs to remove obstacles to social housing projects
The Office of the People's Committee of Ho Chi Minh City yesterday said that Chairman of the municipal People's Committee Phan Van Mai had just directed departments and agencies to remove obstacles to the construction of 13 social housing projects for workers in the city.
NA deputies focus on fiscal, monetary policies for socio-economic recovery
This morning, many National Assembly deputies focused on the implementation of Resolution 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the program of socio-economic recovery and development.
Interest rate aid package expected to reduce pressure on lending interest rates
In the context of rising inflation, many banks have increased deposit interest rates to attract idle money. This step has caused many businesses to worry that lending rates will increase. However, many people said that the 2 percent interest rate of the State's support package can help reduce the pressure to increase lending interest rates.
Banking industry inundated with bad debts
A report submitted to the National Assembly for extending the application period for Resolution 42/2017/QH14 on bad debts settlement by credit institutions (CIs) states that bad debts as of August 15, 2017, were at VND541.6 trillion.
Unresolved bad debt remains at high level
Although the results of bad debt settlement, according to Resolution No.42/2017/QH14 dated June 21, 2017, of the National Assembly on piloting bad debt settlement of credit institutions for nearly five years are at a high level of VND380.2 trillion (US$16.44 billion), unresolved bad debt by December 31, 2021, remains high at VND412.67 trillion.
Capital flow into real estate should not be blocked
Some banks have announced to stop providing real estate loans, and the corporate bond channel to attract capital for real estate has also been tightened. Faced with this situation, experts raised many financial and capital solutions to reduce risks and develop a sustainable and stable real estate market at the seminar on "Controlling capital into real estate - Policy and impact" held by the Ministry of Construction, on May 11, in Hanoi.
Around US$30.7 billion poured into economy
Credit growth reached 6.75 percent as of the end of April 25 while credit institutions poured VND705,000 billion (US$30.7 billion) into the economy, according to the State Bank of Vietnam.
On-balance sheet bad debt ratio kept at less than 2 percent: Governor
According to Governor of the State Bank Nguyen Thi Hong, the bad debt of the system of credit institutions has been handled and controlled and the bad debt ratio on the balance sheet is maintained at less than 2 percent.
Remittances to HCMC total US$6.6 billion last year
Remittances to Ho Chi Minh City reached around US$6.6 billion in 2021, up 9 percent from the previous year, according to Nguyen Hoang Minh, head of the Vietnam Banks Association’s Office in HCMC.
Maintaining credit growth but controlling risks
Deputy Director of the SBV Monetary Policy Department Bui Thuy Hang said that the credit balance of the whole economy by November 25 increased by 10.1 percent compared to the end of last year.
Control on corporate bond issuance strengthened
The Government Office, on December 3, issued a notice on strengthening the management, inspection, and scrutiny of corporate bond issuance.
Sharp increase in bad debts again
There is a clear indication that bad debts are now increasing rapidly. This will lead commercial banks to face tremendous pressure as Resolution 42/2017/QH14 on bad debt settlement of credit institutions will expire in less than a year on 15 August 2022.
Credit grows 7.42 percent
Mr. Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV), on October 12 at a press conference of the SBV, informed that the credit of the whole banking system rose by 7.42 percent compared to that at the end of last year and surged by 5.48 percent compared to the same period in 2020.
Credit merely rises 0.76 percent in Q3
The State Bank of Vietnam Ho Chi Minh City Branch, on September 29, said that by the end of September 2021, the outstanding balance in the city was estimated at nearly VND2.7 quadrillion, up 6.41 percent compared to the end of 2020.
SBV orders strict control on real estate credit
The State Bank of Vietnam (SBV) has recently requested credit institutions and foreign bank branches to strictly control the growth rate of credit outstanding balance and the credit quality of sectors with potential risks or heavily affected by the Covid-19 pandemic, especially the real estate credit.
Banks seek alternate sources for liquidity
During the first half of the year the economy was showing signs of recovery, which helped credit institutions to grow strongly once again.