It is estimated that the revenue of unlicensed games in the Vietnamese market is nearly VND5,000 billion (US$212,240,359) annually, accounting for 30 percent of the revenue of the country’s game market.
Following the Minister of Finance’s request, the State Bank of Vietnam set up a hotline to receive complaints relating to credit institutions’ activities.
The State Bank of Vietnam’s (SBV) Ho Chi Minh City (HCMC) branch will continue to prioritize credit for production and business, especially in priority sectors, to boost economic recovery.
The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.
Prime Minister Pham Minh Chinh said the banking system plays the role as arteries of the economy while addressing a meeting with chairpersons and CEOs of commercial banks in Hanoi on October 16.
This morning, the State Bank of Vietnam (SBV) said that its has sent a notice to credit institutions approving their proposals to adjust credit growth target in 2022.
The State Bank of Vietnam has plans to offer e-lending facilities and has recently made amendments to a draft for Circular 39/2016/TT-NHNN for the supplementing of a number of articles in it. This will pave the way for commercial banks to compete with several booming online lending platforms in the market today.
The Office of the People's Committee of Ho Chi Minh City yesterday said that Chairman of the municipal People's Committee Phan Van Mai had just directed departments and agencies to remove obstacles to the construction of 13 social housing projects for workers in the city.
This morning, many National Assembly deputies focused on the implementation of Resolution 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the program of socio-economic recovery and development.
In the context of rising inflation, many banks have increased deposit interest rates to attract idle money. This step has caused many businesses to worry that lending rates will increase. However, many people said that the 2 percent interest rate of the State's support package can help reduce the pressure to increase lending interest rates.
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.
Although the results of bad debt settlement, according to Resolution No.42/2017/QH14 dated June 21, 2017, of the National Assembly on piloting bad debt settlement of credit institutions for nearly five years are at a high level of VND380.2 trillion (US$16.44 billion), unresolved bad debt by December 31, 2021, remains high at VND412.67 trillion.
Some banks have announced to stop providing real estate loans, and the corporate bond channel to attract capital for real estate has also been tightened. Faced with this situation, experts raised many financial and capital solutions to reduce risks and develop a sustainable and stable real estate market at the seminar on "Controlling capital into real estate - Policy and impact" held by the Ministry of Construction, on May 11, in Hanoi.
Credit growth reached 6.75 percent as of the end of April 25 while credit institutions poured VND705,000 billion (US$30.7 billion) into the economy, according to the State Bank of Vietnam.
According to Governor of the State Bank Nguyen Thi Hong, the bad debt of the system of credit institutions has been handled and controlled and the bad debt ratio on the balance sheet is maintained at less than 2 percent.
Remittances to Ho Chi Minh City reached around US$6.6 billion in 2021, up 9 percent from the previous year, according to Nguyen Hoang Minh, head of the Vietnam Banks Association’s Office in HCMC.
Deputy Director of the SBV Monetary Policy Department Bui Thuy Hang said that the credit balance of the whole economy by November 25 increased by 10.1 percent compared to the end of last year.
