Central banks rates

Thanks to the bad debt decrease, the bank increased its provisions from 120 per cent to 130 per cent of loans. In 2021, VietinBank aimed to keep the bad debt ratio below 2 per cent while credit was set to grow at 8-11 per cent and profit at 10-20 per cent, Binh said. … [Read more...] about Banks to make provisions for COVID-19 affected loans this year

HCM City (VNA) - Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20. Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu considered abolishing black credit as one of the important tasks that has been continuously implemented across the whole credit institution system in Vietnam. In recent years, the SBV and credit institutions in localities have been cocoordinating with the Ministry of Public Security and local authorities in implementing drastic measures to limit black credit. In the future, the SBV will continue improving the awareness of local people about credit policies, loan packages and procedures for loan applications so that local people could easily access bank loans. Meanwhile, the State Bank will study and soon complete legal documents … [Read more...] about Promoting consumer finance to fight black credit: experts

Vietnam Central Bank calls for counterfeit cash vigilance With the Lunar New Year Festival (Tet) drawing near and demand of cash increasing, Vietnam's central bank has sounded the alarm over counterfeit money. … [Read more...] about Cash in hand isn’t always what it seems

NCSC experts said online fraud is a common and longstanding form of cyberattack. Taking advantage of the complex situation of the COVID-19 pandemic in which almost all activities went online, fraud through cyberspace has been increasing, especially targeting people using telecommunications and social networks. … [Read more...] about 10 outstanding events for Vietnamese cybersecurity in 2020

Nguyen Duc Thuan, director of the Vietnam Environment Protection Fund under the Ministry of Natural Resources and Environment, shared his experience on loans disbursement and examination. “Before granting loans to any businesses, funds must ensure checking information from the Credit Information Centre, as well as double-check their financial capacity and debt payment ability. As a state-owned fund, the SMEDF should take a very cautious view on conducting evaluation and loan appraisals processes.” … [Read more...] about Caution urged for SME fund processes