Sharp increase in bad debts again

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

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

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.
Illustrative photo. (Source: SGGP)

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. 
Real estate corporate bond issuance volume declines 55 percent

Real estate corporate bond issuance volume declines 55 percent

The Ministry of Finance, on July 13, informed that after six months of implementing the new legal framework on corporate bonds, the volume of corporate bonds issued through private placement was above VND168.7 trillion, up 3.2 percent over the same period last year. The volume of corporate bonds issued through public offering was more than VND15.37 trillion, equivalent to 50.3 percent of bond issuance volume in 2020, accounting for 8.3 percent of total corporate bond issuance volume.
Many business loan packages with preferential interest rates launched

Many business loan packages with preferential interest rates launched

The State Bank of Vietnam Ho Chi Minh City Branch (SBV-HCMC Branch) has recently asked local credit institutions to continue implementing solutions to support and remove difficulties for borrowers affected by the Covid-19 pandemic according to the regulations on debt repayment rescheduling, exemption, and reduction of interest rates and fees, and new loans following Circular No.01/2020 and Circular No.03/2021 of the SBV.
Overseas remittances transferred to HCMC reach US$6.1 billion

Overseas remittances transferred to HCMC reach US$6.1 billion

According to the State Bank of Vietnam - Ho Chi Minh City Branch, although the global economy was negatively affected by the Covid-19 pandemic, the number of overseas remittances transferred into the country through HCMC-based credit institutions was US$6.1 billion last year, up 12 percent compared to that of $5.5 billion in 2019.
Credit growth of HCMC reaches 8 percent

Credit growth of HCMC reaches 8 percent

According to the State Bank of Vietnam – Ho Chi Minh City Branch (SBV-HCMC), the credit growth in the city was at 8 percent last year.
Credit growth in 2020 not as high as expected

Credit growth in 2020 not as high as expected

The State Bank of Vietnam (SBV) said that by December 31, last year, the credit outstanding balance of the economy nearly touched VND9.2 quadrillion, an increase of about 12.13 percent compared to 2019, at a meeting to deploy the tasks of the banking sector in 2021 held in Ho Chi Minh City on January 7.