Credit growth in the first half of 2019 was slightly higher than the 6.14 percent growth recorded in the first half of 2018, according to the State Bank of Vietnam (SBV).
The State Bank of Vietnam has given nod to branches of foreign banks to increase capital.
Vietcombank's shareholding in MBBank and Eximbank has dropped to less than five per cent in compliance with the regulations of the State Bank of Vietnam.
The State Bank of Vietnam has approved Vietcombank and Vietnam International Bank to apply the Basel II standards from January 01, 2019, one year ahead of deadline.
The State Bank of Vietnam recently approved two leading commercial banks, namely VPBank and MB to raise its charter capital, the move being considered as necessity to increase their competitiveness and satisfy with standards of Basel II to control risks of credit, market and operation.
The information was given during the working session of Nguyen Kim Anh, Deputy Governor of the State Bank of Vietnam, with Ocean Commercial Joint Stock Bank (OceanBank).
The State Bank of Vietnam (SBV) recently affirmed that bitcoin and other similar virtual currencies are not a legal payment instrument in Vietnam.
Two years after being purchased at the price of VND0 by the State Bank of Vietnam, three banks namely Ocean Commercial Joint Stock Bank (Ocean Bank), Construction Bank (CB Bank) and Global Petroleum Commercial Joint Stock Bank (PGBank) continue to suffer great losses and negative equity.
Leaders of Oceanbank (Ocean Commercial Joint Stock Bank) and Construction Bank (CB Bank) were recently prosecuted and two banks were acquired at VND0 by the State Bank of Vietnam (SBV). However, some have raised questions about how those newly acquired banks will be managed.
This is the result of the survey on business trends of credit institutions recently conducted by the State Bank of Vietnam.
The State Bank of Vietnam (SBV) is the largest shareholder in Vietcombank, with 77.11% stake amounting to VND2,200 billion (roughly US$98.58 million) dividends paid in cash for 2016 year.
The recent reduction in interest rates of the State Bank of Vietnam (SBV) is expected to stimulate the real estate market.
According to the draft circular of the State Bank of Vietnam (SBV), non-resident foreigners can deposit savings in both local and foreign currency at commercial banks, a positive move not only to limit speculation in the market but also guarantee legal reights for non-residents presenting in Vietnam.
