banking industry

Soon after the article " Decoding the "Enigma" of Banks ” was published, Saigon Investment received many comments that now require an appropriate response.

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.

At a time when most businesses are facing serious losses, with some even in dire situations and having to sell off much of their assets, banks continue to announce profits of thousands of billion dongs.

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.

Even as the biggest real estate businesses struggle with debts and bankruptcy, banks continue to stay afloat and tackle the bad debt situation over a period of time. This ability of banks helps bank stocks not fall too low, despite overdue payments.

The banking industry in Vietnam is currently taking the lead in applying new digital technology in its various departments.

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.

The "Restructuring the System of Credit Institutions Associated with Handling Bad Debts between 2021 and 2025" project states that the banking industry must address weak banks by 2025.

Macro data for growth acceleration in the first quarter of 2023 has sprung a surprise for the stock market as indications are far lower than expected.

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

Vietnam's lending interest rates are higher than many countries in the world, while last year, Vietnam was one of the countries with the lowest inflation level. This paradox needs to be explained to find solutions to ease the burden on businesses.

Through the Bank-Business Connection program, commercial banks disbursed VND568.34 trillion, equal to 131 percent of the preferential credit package registered since the beginning of the year, an increase of 16.6 percent compared to 2021.

The State Bank of Vietnam (SBV) announced on February 23 that it had issued Official Letter No. 953/NHNN-TD, which outlines the continuation of the bank-business connection program.

High lending interest rates will challenge the target of controlling inflation as well as production and business activities.

Highly aware that digital transformation is a critical process in Industry 4.0, the banking industry in Vietnam has volunteered to enter this process first, and has begun to reap ‘sweet fruit’.

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.

Businesses have for long faced a crunch of capital and difficulty in accessing credit from banks.