Banking sector urged to expand credits to support economic growth

Banking sector urged to expand credits to support economic growth

SBV Deputy Governor Dao Minh Tu stated that an average credit growth of over 2% would contribute to a 1% increase in the country's GDP. Therefore, for 2025, the central bank aims for a credit growth target of around 16% to contribute to the economic growth target of 8%.

PM urges stronger measures to manage interest rates

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.

Banks to issue billions of dollars in Tier-2 bonds in next three years

Banks will need to issue new Tier-2 capital bonds to replace maturing bonds and bolster their capital adequacy ratios, said experts.

Credit growth bright spot for banking

As of June 14, credit growth has reached 3.79% compared to the end of last year, marking a bright spot for the banking sector, according to the central bank.

PM sets major goals for banking sector in digital transformation

Prime Minister Pham Minh Chinh has set three major digital transformation targets for the banking sector, including creating the most favourable conditions for people, businesses and agencies to access banking services.

Banking sector focuses on credit institution restructuring associated with bad debt settlement

The banking sector should take more drastic measures to restructure credit institutions in association with the settlement of bad debts to contribute to curbing inflation and stabilising macro-economic factors, according to insiders.

Central bank must keep a close on financial market: WB

The State Bank of Vietnam must step up efforts in the management of the country's banking sector and prepare for all possible scenarios for timely and effective interventions, according to the World Bank (WB).

Banking sector optimistic despite ongoing conflict in Europe

It's too early to tell how the ongoing Russia-Ukraine conflict will affect Vietnam's banking sector, said industry experts.

Banking sector promises sufficient funding for businesses post-pandemic

The banking sector will provide enough credit to businesses at supportive interest rates this quarter to help revive them, according to the State Bank of Vietnam’s Ho Chi Minh City branch.
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