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Vietnam accelerating towards a cashless society
1 ngày trước
For the first time, the Vietnamese legal framework formally defines electronic money. Under Decree No.52/2024/ND-CP, electronic money is “the value of Vietnamese currency co-stored on electronic means provided on a reciprocal basis with the amount prepaid by customers to banks, foreign bank branches, and intermediary payment service providers providing e-wallet services.” This definition establishes electronic money as a digital form of Vietnam’s legal currency.
Divestments point to lenders’ long-term strategic thinking
3 ngày trước
Some organisations are accelerating divestment in Vietnam’s banks, reflecting a broader trend of strategic capital management and shareholder restructuring.
Foreign banks committing to considerable loans
3 ngày trước
International banks are demonstrating growing interest in Vietnam, committing substantial investments and loans to support the country’s development and economic growth.
Several Vietnamese banks agree to finance EV purchases
4 ngày trước
A Chinese electric vehicle manufacturer has agreed a deal with several Vietnamese banks to provide favourable financing solutions for customers purchasing its automobiles across Vietnam.
VIB launches loan package to refinace existing loans for townhouses and apartments
16-07-2024 18:45
Vietnam International Bank (VIB) is offering a loan package for customers looking to refinance existing loans from other banks to buy townhouses and apartments.
Compulsory e-signature might be cost burden: banking association
15-07-2024 17:02
The Vietnam Banking Association has sent a document to the Ministry of Information and Communications with regard to the draft decree on electronic signatures, saying that if they are made compulsory in banking transactions, it might become a cost burden to both users and enterprises.
Banks pump over 18.88 billion USD into economy in June
15-07-2024 16:39
Banks lent more than 480 trillion VND (18.88 billion USD) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6 per cent to the end of Q2.
Deposit interest rates continue to rise
13-07-2024 13:29
Banks have continued to raise deposit interest rates to the highest levels seen in the past year, with some banks offering over 6 per cent per annum.
VinFast seeks $250 million loan from Indonesian banks for Subang Assembly plant
12-07-2024 09:30
According to a report on July 10 by Bloomberg, VinFast, the Vietnamese electric vehicle (EV) manufacturer, is seeking a loan of approximately $250 million from Indonesian banks to construct an assembly plant in Subang.
Banks continuing to plan cautious growth
10-07-2024 11:00
Vietnamese banks are significantly increasing their charter capital to strengthen financial stability and support growth.
Lower lending rates stimulating demand for home loans
03-07-2024 18:32
Banks competing over new lending rates under 6 per cent per year have stimulated a resurgence in demand for housing credit.
Gold monopoly could pose long-term currency risk
03-07-2024 18:00
The government has implemented a policy granting banks an exclusive monopoly on gold sales to control prices and stabilise the domestic market, but the policy may harbour risks in foreign currency outflows.
AI becoming increasingly prevalent for e-payments
03-07-2024 14:14
The rising risks of cashless payment fraud have led banks to accelerate implementation of AI-driven security measures and biometric authentication to enhance transaction safety and protect consumers.
Banks remain wary of low credit growth
24-06-2024 19:00
Overall weak credit demand in the market, with consumption growth still sluggish, is causing banks that do not meet their credit growth targets to have quotas proactively transferred by the State Bank of Vietnam (SBV) to banks with better capabilities.
Policy on rescheduling debt repayment period extended
24-06-2024 15:02
The State Bank of Vietnam (SBV) has decided to allow commercial banks to reschedule the debt repayment period and maintain the debt group for certain sectors for an additional six months, to support struggling businesses.
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