volatility returns to foreign exchange rates

Volatility returns to foreign exchange rates

On May 29 the State Bank of Vietnam adjusted the đồng-US dollar exchange rate, weakening the Vietnamese currency by VND9 to VND22,605 per dollar, which represented the greenback’s biggest rise so far this year.
fintech firms need support from banks sbv

Fintech firms need support from banks: SBV

The fintech (financial technology) sector is facing difficulties of capital mobilisation shortage, inadequate legal framework and banks’ hesitance in co-operation, said Le Minh Hung, Governor of State Bank of Vietnam (SBV).
fe credit comes under inspection for wide scale harassment

FE Credit comes under inspection for wide-scale harassment

Annoying consumers is one of the major contents reviewing of the State Bank of Vietnam’s Banking Supervision Agency when inspecting FE Credit.
ministries disagree on solutions to collect tax from google facebook

Ministries disagree on solutions to collect tax from Google, Facebook

The Ministry of Finance (MOF) wants the State Bank of Vietnam (SBV) to instruct commercial banks to withhold taxes from transactions with Facebook and Google, but SBV said it is not authorized to do so.
sbv restricts real estate and construction loans

SBV restricts real estate and construction loans

The State Bank of Vietnam recently issued a new document, requesting local credit institutions to restrict lending concentration for the real estate and construction sector. Minh Trang and Bich Ngoc get an insight into how the new instruction has impacted real estate developers, two months after its release.
tighter bank credit to ensure bubble free market

Tighter bank credit to ensure bubble-free market

The State Bank of Vietnam has recently ordered commercial banks to lower the percentage of short-term capital used for mid- to long-term loans from 50 per cent in 2017 to 45 per cent in 2018 and 40 per cent in 2019. This new policy is not to curb the growth of real estate credit, but to steer the market onto a more sustainable route.
central bank injects nearly us 573 mln to support liquidity

Central bank injects nearly US$573 mln to support liquidity

The State Bank of Vietnam (SBV) made a net cash injection of VND13 trillion (US$572.9 million) into the economy in the past week to support the liquidity of commercial banks.
fed raise puts pressure on exchange rate

FED raise puts pressure on exchange rate

Exchange rates were forecast to rise slightly in the coming years as the State Bank of Vietnam (SBV) fixed interest rates for mobilised deposits at 0 per cent, following the FED’s plan to raise the USD interest rate three times in 2018.
reference exchange rate goes down by 6 vnd

Reference exchange rate goes down by 6 VND

The State Bank of Vietnam slashed its reference VND/USD exchange rate by 6 VND to 22,082 VND/USD on the morning of December 27.
vnd holds steady after us rate rise

VND holds steady after US rate rise

Due to the State Bank of Vietnam’s anticipation of last week’s US rate hike, the VND stayed put last week, ahead of a probable devaluation of 1-2 per cent in 2018.
hdbank raises charter capital to enter top ten banks in vietnam

HDBank raises charter capital to enter top ten banks in Vietnam

Recently, State Bank of Vietnam (SBV) has approved of Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) raising its charter capital for the second time by around $43 million, from VND8.8 trillion ($388.7 million) to VND9.8 trillion ($431.9 million), joining the top 10 Vietnam-based banks having the largest charter capital.
central bank seeking comments on amendment to gold management decree

Central Bank seeking comments on amendment to gold management decree

The State Bank of Vietnam (SBV) is collecting comments on a draft amendment to Decree No. 24 from 2012 on gold trading management, with the proposed elimination of business conditions for producing gold jewelry and fine arts being the prominent feature.
sbv says bitcoin prohibited in viet nam

SBV says bitcoin prohibited in Viet Nam

According to the State Bank of Vietnam (SBV), the issuance, supplement and use of bitcoin and other similar virtual currencies for legal payment is prohibited in Viet Nam.
singapores united overseas bank licensed

Singapore’s United Overseas Bank licensed

Deputy chief inspector of the State Bank of Vietnam Pham Huyen Anh on Tuesday granted business licence to the Singapore’s United Overseas Bank Limited (UOB).
prudential finance retains throne with third excellent performance award from sbv

Prudential Finance retains throne with third Excellent Performance Award from SBV

Prudential Vietnam Finance Company Ltd. has received the “Excellent Performance” 2016 Award, announced by Decision No.1504/QD-NHNN and signed by Governor of the State Bank of Vietnam on July 17, 2017.