The State Bank of Vietnam (SBV) has asked credit institutions to review the implementation of its regulations on consumer loan management. A transaction office of Agribank - Photo: VNA According to the SBV, credit institutions must strictly comply with previous legal documents on civil loans and credit card issuance, especially those on credit interest rates surcharges, calculation methods and transparency. Theo VNA … [Read more...] about SBV to probe credit institutions’ operation
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SBV allows Bao Viet Bank to open branches
Bao Viet Bank will open additional five branches and two transaction offices. — Photo cafef.vn State Bank of Viet Nam (SBV) last week approved Bao Viet Commercial Joint Stock Bank to open five branches and two transaction offices. The five branches are located in the northen province of Lao Cai’s Lao Cai City, central province of Thanh Hoa’s Bim Son Town, Central Highlands province of Gia Lai’s Pleiku City, southern province of Dong Nai’s Bien Hoa City, and HCM City’s Cu Chi District. The two transaction offices are to be opened in Nha Trang City of the central coastal province of Khanh Hoa and in Song Than Industrial Zone in southern Binh Duong Province’s Di An District. These branches and transaction offices must be operational within 12 months of the date of signing the document announcing the approval, failing which the approval will stand null and void. — VNS … [Read more...] about SBV allows Bao Viet Bank to open branches
Quang Ninh, SBV top administrative reform index in 2017
Photo: VGP Generally, the ministries, sectors and localities have made a lot of positive changes in their administrative reform, especially having deployed the models of dealing with administrative procedures online for the people and organizations. Ha Noi and southern Dong Nai province came in second and third place, respectively, in the PAR Index of 63 centrally-run cities and provinces, while the central province of Quang Ngai reported the poorest administrative reform performance. The State Bank of Viet Nam (SBV) went on to take the lead regarding the PAR Index of 19 ministries and ministry-level agencies, followed by the Ministry of Information and Communications and the Ministry of Finance. Meanwhile, the Committee for Ethnic Minority Affairs stood at bottom place in this year’s list. According to the Ministry of Home Affairs’ assessments, the satisfaction index of the whole country reached nearly 78% in terms of … [Read more...] about Quang Ninh, SBV top administrative reform index in 2017
Gov’t to inspect SBV restructuring efforts
The Government Inspectorate (GI) will conduct 25 crucial inspections this year, including scrutiny of the central bank’s implementation of a restructuring project in the past five years. The Government Inspectorate (GI) will conduct 25 crucial inspections this year, including scrutiny of the central bank’s implementation of a restructuring project in the past five years.- Photo baogiaothong.vn According to Plan No.478/KH-TTCP issued last week by Chief Government Inspector Lê Minh Khái, GI in the second quarter will inspect the responsibility of State Bank of Việt Nam (SBV) in the implementation of the project on restructuring credit institutions (CIs) in combination with settling non-performing loans (NPLs) at CIs during 2013-17 period. SBV was entrusted to formulate the project, which aims to restructure CIs and settle NPLs on the principles of ensuring the interests of depositors and maintaining the stability and safety of the banking system as … [Read more...] about Gov’t to inspect SBV restructuring efforts
SBV takes measures to reduce lending interest rates
(VEN) - The State Bank of Vietnam (SBV) has taken various measures in order to lower lending interest rates. The Southeast Asia Joint Stock Commercial Bank (SeABank) is providing preferential loans for enterprises worth VND1.5 trillion. Accordingly, SeABank charges annual lending rates of 7.5 percent for three-month loans and 8.0 percent for six-month short-term loans in Vietnamese dong. The bank also gives out short-term US dollar loans at an annual interest rate of 3.0 percent for six months. The program aims to provide enterprises with short-term loans to supplement working capital for trade and production activities. PGBank is offering lending interest rates for individual customers of 9.49 percent a year for short-term loans; and 7.49 percent a year in the first six months, 8.99 percent a year in the first 12 months, and 9.49 percent a year in the first 24 months for medium- and long-term loans. TPBank is giving interest rates of 7.2 percent a year in the first six months for … [Read more...] about SBV takes measures to reduce lending interest rates