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ADB raises growth forecast for Việt Nam to 6.6 per cent in 2025

ADB raises growth forecast for Việt Nam to 6.6 per cent in 2025

In its Asia Development Outlook report, the Asian Development Bank (ADB) raised the growth rate forecast of Việt Nam to 6.4 per cent in 2024 and 6.6 per cent in 2025.
State bank increases credit growth limit for banks for second time this year

State bank increases credit growth limit for banks for second time this year

The credit growth target was set at approximately 15 per cent at the beginning of the year.
Bank savings among most attractive investment channels

Bank savings among most attractive investment channels

In August alone, the amount of new deposits was nearly VNĐ86.48 trillion, meaning that nearly VNĐ2.9 trillion was deposited at banks every day on average.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
New decree on using telecommunications accounts for payment proposed

New decree on using telecommunications accounts for payment proposed

Currently the use of a telecommunications account to pay for small-value goods and services in the country, called Mobile-Money service, is being implemented in a pilot programme.
BIDV and DDC sign agreement to fund Nghi Sơn high-tech mechanical plant project

BIDV and DDC sign agreement to fund Nghi Sơn high-tech mechanical plant project

On November 19, Đại Dũng Construction Mechanical Trading Corporation (DDC) and the Bank for Investment and Development of Vietnam (BIDV) signed a comprehensive cooperation agreement for the 2024–2029 period and a green credit contract to fund the Nghi Sơn High-Tech...
Central bank issues new decisions on deposit interest rates

Central bank issues new decisions on deposit interest rates

According to the SBV, Decision No. 2410/QĐ-NHNN and Decision No. 2410/QĐ-NHNN aim to ensure consistency on a legal basis with other issued circulars on deposit interest rates.
MSB, SmartOSC team up to adopt BackbaseEngagement Banking Platform

MSB, SmartOSC team up to adopt BackbaseEngagement Banking Platform

This milestone marks a pivotal step in MSB’s journey toward customer-centric modernisation, advancing its digital factory, and delivering seamless experiences that drive financial innovation in Việt Nam.
Bank lending in HCM City to remain on steady growth path: SBV

Bank lending in HCM City to remain on steady growth path: SBV

Bank credit growth has been steady in HCM City in recent months and will continue rising this year, according to the central bank.
New policy drafted to help non-bank credit institutions develop further

New policy drafted to help non-bank credit institutions develop further

Under the draft circular, the SBV proposes that credit institutions are reorganised in the form of converting non-bank credit institutions.
New regulations on mergers, consolidation of credit institutions proposed

New regulations on mergers, consolidation of credit institutions proposed

Under a recently released draft circular, the SBV proposes that any merger and consolidation of credit institutions must meet several principles.
SBVs USD/VNĐ central exchange rate hits all time high

SBV’s USD/VNĐ central exchange rate hits all time high

The move came as the dollar index (DXY) hovered around a four-month high of more than 105, with the market welcoming Donald Trump''s victory in the US presidential election.
ABBANK and National Fund for Vietnamese Children join hands in childcare, activities

ABBANK and National Fund for Vietnamese Children join hands in childcare, activities

An Bình Commercial Joint Stock Bank and the National Fund for Vietnamese Children have signed a sponsorship agreement for implementing community projects for children.
For the first time, a Vietnamese bank has total assets exceeding US100 billion

For the first time, a Vietnamese bank has total assets exceeding US$100 billion

BIDV is reported to have a total consolidated assets reaching nearly VNĐ2.576 quadrillion (US$101.6 billion) as of September 30,  up 12 per cent over the beginning of this year, according to its third-quarter financial report.
Krungsri seeks to accelerate purchase of 50% of SHBFinances charter capital

Krungsri seeks to accelerate purchase of 50% of SHBFinance’s charter capital

Ayudhya Public Bank Limited (Krungsri), a member of Japan''s MUFG Group, has proposed to Saigon - Hanoi Commercial Joint Stock Bank (SHB) that it accelerate the acquisition of the remaining 50 per cent of SHBFinance’s charter capital.