Viet Nam News speaks with Kim Jong Geuk, General Director of Lotte Finance Vietnam Co Ltd (Lotte Finance), about the prospect of the consumer finance business in Viet Nam and the company’s business strategy in the Industry 4.0 era.
Though credit growth has declined recently, Viet Nam’s GDP has continued to rise in the past one and a half years thanks to the improvement of credit quality and the contribution of foreign direct investment (FDI) firms.
Commercial banks’ liquidity was good in the first half of this year thanks to the State Bank of Viet Nam’s (SBV) net injection of nearly VND210 trillion (US$9.17 billion), the latest report from the National Financial Supervisory Commission showed.
Experts have warned enterprises to be more cautious with their US dollar loans amidst a significant rise in the lending and appreciation of the greenback.
Prosperous business performance and positive bank share price trend in the stock market are expected to help some commercial banks meet capital increase deadline required by the State Bank of Viet Nam (SBV).
The State Treasury of Viet Nam has mobilised over VND56 trillion (US$2.46 billion) through government bond (G-bond) auctions in Ha Noi Stock Exchange since the beginning of this year.
Exchange rates for both the central bank and other commercial banks rose slightly in February, while the credit sector showed little significant change, said the National Financial Supervisory Commission (NFSC).
Prime Minister Nguyen Xuan Phuc has asked the National Financial Supervisory Commission (NFS) to enhance the quality of analysis, assessment and forecast of macroeconomic developments and financial markets to complete its task of counseling the Prime Minister.
G-bonds worth VND159.9 trillion (US$7.04 billion) and having an average maturity of 13.52 years, up 4.81 years against 2016, were issued last year, according to the Ministry of Finance.
Consumer lending in 2017 surged sharply by 65 per cent compared to 50.2 per cent in 2016, according to estimates of the National Financial Supervisory Commission (NFSC).