Banks allowed to extend credit growth quota

Banks allowed to extend credit growth quota

The State Bank of Vietnam (SBV) has extended the credit growth limits for the third time this year to some commercial banks to meet rising capital demands at year-end.

Banks cut nearly VND12.24 trillion of interest for Covid-19-affected customers

Banks cut nearly VND12.24 trillion of interest for Covid-19-affected customers

The State Bank of Vietnam said that the total amount of interest cut by 16 commercial banks committed to reducing interest rates and service fees for customers affected by the Covid-19 pandemic was more than VND12.23 trillion from July 15 to September 30, accounting for 59.36 percent of the commitment.
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.