Sixteen banks reduce lending interest rates by more than VND8.86 trillion

Sixteen banks reduce lending interest rates by more than VND8.86 trillion

Four State-owned commercial banks continue to commit to sparing a support package of VND4 trillion to cut interest rates and all banking service fees for customers in localities implementing social distancing under Directive No.16/CT-TTg of the Prime Minister.
Banks report huge profits

Banks report huge profits

Profit reports in the first quarter of this year of commercial banks have revealed the huge profits of lenders. This is also one of the reasons why banking stocks strengthened strongly recently, contributing to supporting the VN-Index to set a new high in history.
Customers do transactions at a bank in Ho Chi Minh City. (Photo: SGGP)

Credit growth hard to accelerate at year’s end

According to the State Bank of Vietnam (SBV), by September 16, credit growth of the banking industry reached 4.81 percent. Although the State Bank of Vietnam has recently raised the credit growth limit for some effective credit institutions capable of expanding healthy credit into sectors serving economic growth, general credit in the banking system is still growing sluggishly.
Banking industry shows good performance

Banking industry shows good performance

Recently released financial statements of the third quarter of this year of commercial banks showed that banking industry has continued to flourish with extremely positive profit growth, in which a large part was contributed by revenue from services. 
Customers do transactions at a bank. (Photo: SGGP)

Low interest rate capital for priority sectors only

The current mobilizing interest rates and certificates of deposit of most commercial banks have touched 9 percent per annum, an increase of 0.5 percent compared to those at the end of last year.