banks launch domestic credit chip cards

Banks launch domestic credit chip cards

The National Payment Corporation of Vietnam (Napas) and seven domestic banks recently launched domestic credit chip cards with unified standards to promote cashless payments and tackle black credit.
govt urged to develop legal framework for direct lending for sme development

Gov’t urged to develop legal framework for direct lending for SME development

The Government has been urged to develop a legal framework for the Small- and Medium-sized Enterprises (SMEs) Development Fund in terms of direct lending, in addition to trust and indirect lending services provided through commercial banks, to provide broader access to soft loans by SMEs.
banks to introduce domestic credit chip cards to promote cashless payments

Banks to introduce domestic credit chip cards to promote cashless payments

The National Payment Corporation of Viet Nam (Napas) last week said it would work with seven banks to introduce domestic credit chip cards with unified standards to limit cash payments and tackle black credit.
promoting consumer finance to fight black credit experts

Promoting consumer finance to fight black credit: experts

Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20.
banks to make provisions for covid 19 affected loans this year

Banks to make provisions for COVID-19 affected loans this year

Banks will have to set aside money for potentially unrecoverable COVID-19 affected loans from this year, according to an amended circular drafted by the State Bank of Vietnam (SBV).
insurance gap adding risk to families

Insurance gap adding risk to families

With a large percentage of the poor population in coastal localities often living in run-down houses, many families are in need of insurance packages for their homes. However, a lack of related insurance programmes among banks may leave their dreams out of reach.
local lenders increase fund reserves

Local lenders increase fund reserves

Vietnamese banks are making a beeline to increase capital, accelerate financial capacity, and tap into overseas funds.
with covid 19 under control vietnams tourism sector banks on domestic travel

With COVID-19 under control, Vietnam's tourism sector banks on domestic travel

Vietnam will continue to use flexible measures to stimulate the domestic tourism market as international borders remain shut due to the global COVID-19 pandemic, a top tourism official has said.
expanding digital only lenders open up framework questions

Expanding digital-only lenders open up framework questions

Despite still being modest in number, digital-only banks in Vietnam are accelerating progress by partnering up with physical lenders, while the country formulates suitable regulations for fully-virtual banks.
banks to stop issuing magnetic strip cards in three months

Banks to stop issuing magnetic strip cards in three months

Vietnamese banks will only be allowed to issue chip cards from March 31, 2021, according to a State Bank of Vietnam (SBV) draft circular.
financial institutions begin public trading

Financial institutions begin public trading

Vietnamese banks are enthusiastically filing for initial public offering or re-listing, in which they dream about tapping into broader scope of funds.
banking partnerships maintain rapid pace

Banking partnerships maintain rapid pace

Foreign insurers are vying with each other to grab a bigger slice of Vietnam’s robust insurance market, demonstrated by their aspiration to tie the knot with both local and international banks operating in the country.
banks post rosy consumer lending performance by year end despite covid 19 threat

Banks post rosy consumer lending performance by year-end despite COVID-19 threat

Along with loosened credit growth, a raft of banks have rolled out lucrative lending programmes to fuel consumption demand for the end of the year.
sumitomo mitsui financial group shows interest in acquiring banks in asia

Sumitomo Mitsui Financial Group shows interest in acquiring banks in Asia

Sumitomo Mitsui Financial Group is allegedly going to acquire Asian banks in Vietnam, the Philippines, or India.
central bank extends credit growth limits

Central bank extends credit growth limits

The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30 percent.