The SBV new circular will regulate the opening and use of Vietnamese đồng-denominated accounts for foreign investors, in order to conduct foreign indirect investment activities in Việt Nam.
The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that remittances to Viet Nam are estimated at US$18.1 billion in 2021.
Global credit rating firm Moody’s Investors Services has upgraded Viet Nam Prosperity Bank (VPBank)’s foreign currency deposits from B1 to Ba3 which is equal to the country’s rating with positive outlook.
The State Bank of Việt Nam on Thursday approved the chartered capital increase of the wholly foreign invested CIMB Viet Nam Bank from the current VND3.47 trillion (US$150.5 million) to VND3.69 trillion ($160.1 million).
Low demand for capital due to COVID-19 has caused bank credit in the first half of April to 0.5 per cent compared with the end of March, according to the State Bank of Viet Nam (SBV).
Banks have warned customers about frauds during the Covid 19 pandemic, advising them not to open suspicious emails or click on dubious links sent as email attachments related to the outbreak.
The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Viet Nam (SBV) Le Minh Hung.
The State Bank of Viet Nam last week gave the go-ahead approving the eligibility of the Republic of Korea’s Woori Bank to establish five branches in Viet Nam.
The Ha Noi Stock Exchange said that Nha Trang Bay Investment and Construction Joint Stock Company successfully issued private corporate bonds worth VND650 billion (US$28.2 million), all of it to the Viet Nam Maritime Bank.