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Credit institutions to provide customer information to tax authorities

Credit institutions to provide customer information to tax authorities

The State Bank of Viet Nam (SBV) has issued an official letter to credit institutions and foreign bank branches on information provision and coordination with tax administration agencies.
Expand credit to prevent usury, central bank asks

Expand credit to prevent usury, central bank asks

The State Bank of Viet Nam has asked domestic credit institutions and foreign banks’ branches to expand credit for business, production and consumption as an effort to prevent usury.
Credit institutes must raise charter capital, forex exchange services tightened

Credit institutes must raise charter capital, forex exchange services tightened

Credit institutes, with the exceptions of local credit institutes, which have been licensed must meet the required charter capital before the date Decision 86 takes effect, which has been set on January 15 next year.
SBV to change reserve requirement policy

SBV to change reserve requirement policy

The State Bank of Viet Nam (SBV) is planning to change its policy on reserve requirement ratios for credit institutions and foreign banks'' branches for the first time since 2011.
SBV set to rank local banks, credit institutions

SBV set to rank local banks, credit institutions

The State Bank of Viet Nam (SBV) will rank credit institutions and foreign bank branches operating in the country in a move to ensure the safety of the banking system and protect legitimate rights of depositors.
Foreign currency lending extended into 2019

Foreign currency lending extended into 2019

The State Bank of Viet Nam (SBV) has issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last...
SBV tightens corporate bond purchase by banks

SBV tightens corporate bond purchase by banks

State Bank of Viet Nam has tightened regulations on corporate bond purchase by credit institutions and foreign bank branches.
Tax authorities fight bad debts

Tax authorities fight bad debts

Facing a large amount of outstanding late payments in the taxation and customs branches, the Ministry of Finance (MoF) is working on a draft resolution on handling tax arrears and irrecoverable fines to submit to the National Assembly.
Central bank allows SCB to close 2 branches

Central bank allows SCB to close 2 branches

State Bank of Viet Nam gave its nod to Saigon Commercial Bank (SCB) to close two of its branches in Tra Vinh Province and Can Tho City.
Local banks set to expand across country in early 2018

Local banks set to expand across country in early 2018

Many banks have planned to set up more branches and transaction offices in the early days of the new year to seize new business opportunities.
Korean firm to open GS25 stores in VN

Korean firm to open GS25 stores in VN

GS Retail Co., a convenience store chain in South Korea, announced on Thursday it will open its first two foreign branches in Viet Nam.
VIB opens new branches nation-wide

VIB opens new branches nation-wide

The additional branches are eligible to undertake a variety of financial and banking activities, such as capital mobilisation, lending, payment and others, the bank said in its statement.  
VIB helps passengers pay train tickets

VIB helps passengers pay train tickets

Passengers can pay for their train tickets at Vietnam International Bank''s (VIB''s) 154 branches and transaction offices nation-wide, starting from October 1, the bank said in a statement on September 29. 
New branches risky for local banks

New branches risky for local banks

Many banks have recently opened numerous branches and transaction offices, causing concerns about safety for the banks and unhealthy competition within the banking system.
Draft conditions for opening offices of foreign traders

Draft conditions for opening offices of foreign traders

The Ministry of Industry and Trade has released a draft decree detailing the conditions for a foreign trader to obtain a license to open a representative office or branch location.