Vietnamese banks as of May 22 had recorded credit growth of 2.29% compared to the end of last year, according to the central bank’s Monetary Policy Department. Credits in Vietnam dong grew by 4.57% while those in foreign currency declined 8.07%. Speaking to the Daily, a representative of this agency said that the government bonds banks bought early this year were not taken into account in this growth... 

Credit institutions described adjustments in prices of the items subject to State management as the greatest risk to inflation control in 2013, the Monetary Statistics and Forecast Department of the central bank said. As per a report on the latest survey of credit institutions done by the department, price adjustments are believed to have the biggest impact on inflation this year. The other factors... 

Establishment of new banks and expansion of transaction point networks will be restricted, says Directive 01 on monetary policy and banking system safety released by the State Bank of Vietnam (SBV) on Thursday. Only well-governed, efficient and law-abiding credit institutions will be allowed to open new branches and transaction offices, while those with poor governance and violations against safety... 

The State Bank of Vietnam (SBV) last Friday granted business licenses to 17 credit institutions and 14 companies for gold bar trading at home. The credit institutions are ACB, VietinBank, BIDV, Agribank, DongABank, Maritime Bank, Techcombank, Nam A Bank, HDBank, OCB, Southern Bank, Sacombank, SCB, TienPhongBank, VietA Bank, VPBank and Eximbank. As such, these entities are allowed to buy and sell gold... 

Twenty six credit institutions have been being inspected by the State Bank of Vietnam (SBV) in the year to date and the inspection results will be publicized, SBV governor Nguyen Van Binh said on Tuesday. Speaking at the discussion session of the National Assembly (NA) on Tuesday, Binh said SBV has launched full inspection and invited foreign independent auditors to conduct financial audits of each... 

The State Bank of Vietnam has required credit institutions and foreign bank branches in the country to report on credit programs and services they have been expanding this year to help enterprises overcome financial problems. Given the Government’s recent resolution stipulating a number of measures to support troubled enterprises and boost the local market, the central bank has asked lenders to... 

Large numbers of companies are still being charged sky-high lending rates for their old bank loans despite a commitment among lenders to slash the rates to below 15% from Sunday in line with the central bank’s instruction. Large lenders like Vietcombank, VietinBank, BIDV and Eximbank last week said they had ordered their branches to reduce lending rates for old loans of corporate borrowers to below... 

The foreign currency market has heated up again when credit institutions begin collecting dollars. The pressure on foreign currency reserves and dong/dollar exchange rate is believed to be harder in the time to come. Foreign banks collecting dollars According to the Governor of the State Bank of Vietnam Nguyen Van Binh, the central bank has bought nine billion dollars since the beginning of 2011,... 

The outstanding loans given to foreign invested enterprises (FIEs) just account for a small proportion in the total outstanding loans of the whole banking system, while the bad debt ratio is much lower than the average level. Preliminary statistics about the outstanding loans given to FIEs have made public, giving the answer to the question about the borrowing and debt payment of the economic sector.... 

Banks pulled down their rates for short-term deposits to equal to or lower than 9% on Monday, but the interest rates for long-term deposits were quoted at over 9% after the rate cap had been removed. On the first day applying the 9% deposit rate ceiling, the mobilization rate for terms from one to nine months at BIDV was slashed to 9% per year, while the deposits of more than 12 months were raised...