Banks create conditions for businesses to restore soon

Banks create conditions for businesses to restore soon

Since the beginning of 2021, Ho Chi Minh City has supported more than 406,000 customers with a total outstanding balance of more than VND471.19 trillion under the policies of the State Bank of Vietnam (SBV) on supporting businesses affected by the Covid-19 pandemic. In the fourth quarter of 2021, the city will strengthen the Bank and Business Connection Program with a credit support package of about VND70 trillion.
Commercial banks ask for more mechanisms to support interest rate cut

Commercial banks ask for more mechanisms to support interest rate cut

Although the State Bank of Vietnam (SBV) has had the policy to reduce interest rates and extend the repayment period to support enterprises in the restoration of production and business activities, many commercial banks said that there should be more mechanisms for implementation.
Credit grows 7.42 percent

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. 

Banks improve credit growth in last months of 2021

Banks improve credit growth in last months of 2021

Credit growth by the end of September 2021 reached 7.17 percent, much higher than the level of 4.99 percent in the same period last year. However, in September, due to the impact of the pandemic and social distancing, the total outstanding balance of the whole economy decreased by VND23 trillion.
Credit merely rises 0.76 percent in Q3

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

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.
Interest rate cut not as expected

Interest rate cut not as expected

Many commercial banks have announced a 0.5-3 percent cut in lending interest rates and many policies to support customers affected by the Covid-19 pandemic. However, feedback from individual customers in Ho Chi Minh City shows that banks have refused to aid them, even when they are in blocked areas and need priority.
Commercial banks sharply raise provisions to cover bad debts

Commercial banks sharply raise provisions to cover bad debts

Although commercial banks have restructured a lot of debts to support customers affected by the Covid-19 pandemic, in the recently released second-quarter financial statements of commercial banks, the total bad debts by June 30 still increased by 4.5 percent compared to the end of last year, equivalent to an increase of nearly VND124.9 trillion. In which, the ratio of debt group 5 (Potentially irrecoverable debts) at some commercial banks has recently increased rapidly.
Interest rates gradually decrease

Interest rates gradually decrease

The wave of interest rate cuts has been activated, and it is forecasted that the interest rate level will remain low from now until the end of the year to support businesses and the economy amid the context that the Covid-19 pandemic prolongs as currently.