Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City branch Nguyen Duc Lenh said that credit growth in Ho Chi Minh City in the first 5 months of 2023 is lower than that of the country.
Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City branch Nguyen Duc Lenh said that credit growth in Ho Chi Minh City in the first 5 months of 2023 is lower than that of the country.
After the State Bank of Vietnam (SBV) reduced the benchmark interest rate by an additional 0.5 percent, effective from May 25, many commercial banks have started lowering their lending rates.
The volatile crisis across banks in the US continues unpredictably with the recently declared bankruptcy by the First Republic Bank. This marks the third bank to fail in the last few months.
The State Bank of Vietnam (SBV) is set to further reduce regulatory interest rates on May 25, the third cut in a row since mid-March, expected to give a boost to the stagnant real estate market.
By early May, commercial banks have started to reduce deposit interest rates. With this the average deposit interest rate that had peaked in January at 9 percent per year for a 6-month term decreased to around 7.5 percent per year.
The economy is facing external headwinds as weakening external demand continues to weigh on exports, translating into weakening industrial production, according to the May edition of the World Bank’s monthly Vietnam's economy published today.
The National Population Data Center (under the Public Security Ministry) yesterday introduced its payment ecosystem in the event of Banking Digital Transformation Day 2023.
Deputy Prime Minister Le Minh Khai stressed on the Banking Digital Transformation Day 2023 that this inevitable complicated process should be done with care, adapting from international experience and achievements to suit Vietnam’s context.
On May 11, the State Bank of Vietnam (SBV) and the People's Committee of Ho Chi Minh City jointly organized a conference to discuss monetary and credit solutions to support and promote the economy of the Southeast region.
The digital transformation day of the banking sector will be held on May 18, the State Bank of Vietnam (SBV) announced at a press conference in Hanoi on May 11.
Banks in Vietnam are now very keen to tie up with financially strong foreign partners to increase their capital, especially in the current situation where capital flow is limited to small deposits and people are holding on to their savings.
Amid the fluctuation of the global financial market, the exchange rate in Vietnam has remained stable in the first four months of this year, and the Vietnam dong has been considered one of the most stable currencies in Asia, according to experts.
Moody’s Investor Service has forecast that Vietnam’s forex reserves excluding gold will rebound to US$95 billion by the end of the year as the State Bank of Vietnam rebuilds its stockpile.
The Traffic Safety Committee of Thua Thien Hue Province yesterday sent a formal dispatch to related state units, asking for cooperation to ensure traffic safety in slope construction at Km69+900 of Cam Lo – La Son Expressway project.
Deputy Minister of National Defence Senior Lieutenant General Hoang Xuan Chien on June 7 received Director of the US Defence Prisoners of War/Missing In Action ((POW/MIA) Accounting Agency Kelly K. Mc Keague.
The Civil Aviation Authority of Vietnam (CAAV) sent a document proposing cooperation in transporting exam questions for the national high school graduation exam and university entrance examination to aviation organizations and businesses.