Secured credit cards to build credit

In the first four months of 2020, domestic transactions via bank cards rose 26.2% in the number of transactions and 15.7% in value year-on-year; internet transactions rose 3.2% in number of payments and 45.7% in value while mobile payment surged 189% in number of transactions and 166.1% in value. … [Read more...] about Vietnam credit growth slows to 2.13% in 6-month period

In addition, the cross-ownership among CIs is also handled thoroughly. The direct cross-ownership between pairs of CIs was removed from the end of 2019 while there is only one pair of a CI and a firm directly owning shares of each other compared with 56 pairs in 2012. … [Read more...] about Vietnam’s credit institutions must speed up restructuring to meet deadline

At a meeting with commercial banks in late April, Governor of the State Bank of Vietnam (SBV) Le Minh Hung reported that as of March 31, credit provided to the national economy had increased by 1.3 percent compared with the beginning of the year, the lowest Q1 credit growth rate in the last six years. … [Read more...] about Credit grows slowly, but banks still make profits

Moreover, the Can Tho City branch of the Vietnam Bank for Social Policies has not received any applications so far, as enterprises fail to meet lending requirements. Borrowers are required to have 20% to 30% of staff participating in compulsory social insurance, but they cannot afford the insurance for a long time, said Huynh Van Thuan, director of the branch. SGT … [Read more...] about VN central bank’s VND16 trillion aid receives lackluster response from employers