Illustrative photo.

Obstacles in disbursement of support package

The State Bank of Vietnam has announced adjustment of credit limit for 2022 for fifteen commercial banks by 1 percent to 4 percent, and at the same time requested banks to step up disbursement of the 2-percent interest rate support package as per Decree 31/2022/ND-CP. 
Employees of Nidec Co. in Saigon Hi-tech Park are being vaccinated. (Photo: SGGP)

HCMC supports businesses to resume operation

As the latest Covid-19 outbreak becomes increasingly complicated in Vietnam, stricter and stricter social distancing regulations have been introduced to help cope with the situation. This, however, has also led to over 84,000 businesses going bankrupt in the first 8 months of 2021 due to disruptions in supply chain flow. Ho Chi Minh City, therefore, is now trying to implement flexible support policies to help existing businesses restart their work.

Vietnam’s commercial bank credits on a roll

Vietnam’s commercial bank credits on a roll

Credit ratings for Vietnam is on an upward trend at the start of 2021 despite the raging pandemic thanks to the recovery in production, business and exports as well as new preferential loan policies to support domestic companies, experts stated.
BIDV has just approved a plan to increase its charter capital in 2021 by more than VND8.3 trillion. (Photo: SGGP)

Several commercial banks propose to increase charter capital

Many commercial banks have submitted to their shareholders and proposed to increase charter capital in the context that credit growth must ensure capital adequacy ratio (CAR) following the international standards Basel II.
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.
Banks offer preferential interest rates for enterprises affected by Covid-19

Banks offer preferential interest rates for enterprises affected by Covid-19

Amid the context that the outbreak of an acute respiratory disease caused by the novel coronavirus (Covid-19) is happening complicatedly, causing negative impacts on economic growth, the State Bank of Vietnam (SBV) ordered commercial banks not to increase interest rates, including mobilizing interest rates.