Many banks increase deposit interest rates in year-end period
In the year-end period, savings interest rates have become a focal point, with many banks adjusting their offerings, showing clear divergence.
Remittance to HCM City surges nearly 20%
Overseas remittances to Ho Chi Minh City reached nearly 5.2 billion USD in the first half of 2024, equivalent to 54.7% of last year's figure and up 19.5% year-on-year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV)'s HCM City branch.
Vietnam cuts 12 administrative procedures in banking sector
Deputy PM Tran Luu Quang has signed a decision to reduce and simplify 12 administrative procedures under the jurisdiction of the State Bank of Vietnam.
Banks urged to lower lending rates to stimulate growth
Prime Minister Pham Minh Chinh has called for appropriate solutions to reduce lending rates as credit growth in between January and March dipped to 0.9 percent.
Central bank pushes others to boost lending from start of New Year
The State Bank of Vietnam has issued a directive urging credit institutions to accelerate credit growth from the early months of 2024, a pivotal step toward propelling economic growth.
Vietnamese banks' credit ratings upgraded
Credit ratings agency Fitch Ratings has recently revealed upgrades for several banks, in the wake of its decision to raise Vietnam's national credit rating to BB+ with a long-term outlook of "Stable".
ADB projects Vietnam’s 2024 GDP growth at 6%
The Asian Development Bank (ADB) has forecast Vietnam's Gross Domestic Product (GDP) at 6% for 2024, according to the Asian Development Outlook (ADO) released on December 13.
Five banks earned profits of more than 10 trillion VND in H1
Five banks in Vietnam recorded a pre-tax profit of more than 10 trillion VND (422 million USD) in the first six months of this year, financial statements of the banks showed.
Bank deposit interest rates keep falling
Banks have been steadily cutting deposit interest rates, which have reached around 8%, a move aimed at reducing lending rates to support businesses.
Reference exchange rate down 13 VND on May 5
The State Bank of Vietnam set the daily reference exchange rate at 23,622 VND/USD on May 5, down 13 VND from the previous day.
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