Từ khóa: #banking industry

Banks are maintaining a cautious approach in dealing with the current crisis in the real estate market.

Most businesses that are in need of capital in the current economic scenario expect a regulatory adjustment, as most of them are facing extreme difficulties in running their entire operations.

The banking industry in Vietnam has initially poured VND15 trillion (US$631.2 million) into its digital transformation process, resulting in impressive achievements such as a 40-percent growth rate in a short time. This is the report in yesterday’s online formal discussion themed ‘Banking Industry as a Pioneer in Digital Transformation: for the Public to Participate and Benefit’.

A report submitted to the National Assembly for extending the application period for Resolution 42/2017/QH14 on bad debts settlement by credit institutions (CIs) states that bad debts as of August 15, 2017, were at VND541.6 trillion.

The group of State-owned banks has continued to maintain their leading position in terms of network coverage in the country’s banking industry.

 

Several banks are currently issuing dividend paying shares as well as making strong efforts in finding more foreign strategic investors to increase capital. 

Although many Commercial Banks have not yet announced their financial statement for the second quarter of 2021, some banks have already declared outstanding growth and profit. 

Profit reports in the first quarter of this year of commercial banks have revealed the huge profits of lenders. This is also one of the reasons why banking stocks strengthened strongly recently, contributing to supporting the VN-Index to set a new high in history.

The State Bank of Vietnam (SBV) said that by December 31, last year, the credit outstanding balance of the economy nearly touched VND9.2 quadrillion, an increase of about 12.13 percent compared to 2019, at a meeting to deploy the tasks of the banking sector in 2021 held in Ho Chi Minh City on January 7.

According to the State Bank of Vietnam (SBV), by September 16, credit growth of the banking industry reached 4.81 percent. Although the State Bank of Vietnam has recently raised the credit growth limit for some effective credit institutions capable of expanding healthy credit into sectors serving economic growth, general credit in the banking system is still growing sluggishly.

By June 16, the credit growth of the banking industry merely reached 2.13 percent compared to the beginning of this year. Thus, in the first nearly six months of this year, credit growth was only half of that in the same period last year due to the serious impacts of the Covid-19 pandemic.

Evaluating the banking activities in February this year, the People’s Committee of Ho Chi Minh City said that the city’s banking industry continued to operate stably and maintain a positive growth rate, contributing to meeting the capital demand for the production and trade activities and to the economic growth of the city.

Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam – Ho Chi Minh City Branch (SBV-HCMC Branch), reported to the State Bank of Vietnam (SBV) at a meeting on January 10 that the city’s banking industry’s capital mobilization nearly reached VND2.5 quadrillion last year, an increase of 13.5 percent compared to that in 2018, lower than the country’s total capital mobilization of 14.3 percent.