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State Bank of Vietnam

SBV pushes rate cuts to support economic growth

SBV pushes rate cuts to support economic growth

At a conference held on Monday in Hà Nội, SBV Deputy Governor Phạm Thanh Hà said that stabilising deposit rates and reducing lending rates are key tools to promote economic recovery and maintain macroeconomic stability.
SBV raises 2025 credit growth quota to support economic expansion

SBV raises 2025 credit growth quota to support economic expansion

The SBV also stated that it will strive to maintain stable deposit rates and reduce lending rates through cost-cutting, digitalisation, streamlined administrative procedures, and internal restructuring.
Bank savings among most attractive investment channels

Bank savings among most attractive investment channels

In August alone, the amount of new deposits was nearly VNĐ86.48 trillion, meaning that nearly VNĐ2.9 trillion was deposited at banks every day on average.
New decree on using telecommunications accounts for payment proposed

New decree on using telecommunications accounts for payment proposed

Currently the use of a telecommunications account to pay for small-value goods and services in the country, called Mobile-Money service, is being implemented in a pilot programme.
Central bank issues new decisions on deposit interest rates

Central bank issues new decisions on deposit interest rates

According to the SBV, Decision No. 2410/QĐ-NHNN and Decision No. 2410/QĐ-NHNN aim to ensure consistency on a legal basis with other issued circulars on deposit interest rates.
New policy drafted to help non-bank credit institutions develop further

New policy drafted to help non-bank credit institutions develop further

Under the draft circular, the SBV proposes that credit institutions are reorganised in the form of converting non-bank credit institutions.
SBVs USD/VNĐ central exchange rate hits all time high

SBV’s USD/VNĐ central exchange rate hits all time high

The move came as the dollar index (DXY) hovered around a four-month high of more than 105, with the market welcoming Donald Trump''s victory in the US presidential election.
State bank urges credit growth, consumer lending

State bank urges credit growth, consumer lending

Banks and credit institutions should implement safe and effective credit growth solutions to enable spending and boost consumption.
New regulations on foreign indirect investment in Việt Nam drafted

New regulations on foreign indirect investment in Việt Nam drafted

The SBV new circular will regulate the opening and use of Vietnamese đồng-denominated accounts for foreign investors, in order to conduct foreign indirect investment activities in Việt Nam.
Property sector remains vulnerable to money laundering: SBV

Property sector remains vulnerable to money laundering: SBV

Việt Nam''s property sector remains vulnerable to money laundering with the risk of money laundering activities in the sector being high, said the latest report by the State Bank of Vietnam (SBV).
Banks reduce profit expectations for 2024

Banks reduce profit expectations for 2024

A majority of banks have lowered their profit expectations for 2024.
State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

Joint stock commercial banks can easily implement capital increase plans using their shares, while State-owned commercial banks have to go through many rounds of approval to get the go-ahead from authorities on any planned capital increases.
Banks not allowed to offer promotions to depositors

Banks not allowed to offer promotions to depositors

Credit institutions are not allowed to offer promotional incentives in cash, interests or other forms, to lure depositors, according to recently issued circulars on interest rates for deposits in Vietnamese đồng and US dollar.
Central bank might work to increase nations foreign exchange reserves

Central bank might work to increase nation’s foreign exchange reserves

According to data from WiChart, the SBV has maintained the buying rate at VNĐ23,400 per dollar since mid-May 2023.
Central bank takes looser monetary measures

Central bank takes looser monetary measures

The SBV this week also continued to reduce the bill interest rate from 4.2 per cent per year to 4.15 per cent per year.