SBV

Update news SBV

SBV aims to get bad debts to below 3%

VietNamNet Bridge – The Vietnamese government is determined to bring total bad debts down to 3 per cent in 2015, well below last year’s 5.43 per cent.

SBV unexpectedly devalues dong by 1%, businesses remain calm

The State Bank of Vietnam (SBV) unexpectedly devalued the dong by one percent starting on January 7, 2015. It will now have the right to devalue the dong again by only one percent within the year.

Will Vietcombank take over Saigon Bank?

Vietcombank, one of five Vietnamese largest commercial banks has announced it will acquire another credit institution. Sources say the “other credit institution” could be Saigon Bank.

State changes state-owned banks’ leadership

 VietNamNet Bridge – New faces have appeared holding the key positions at state-owned banks and at banks in which the State holds a  controlling stake.

BUSINESS IN BRIEF 26/12

Hanoi Food IPO on January 9; Companies promise to maintain Tet bonus despite economic downturn; Experts: Power tariff hikes to hit firms; Transport firms to lower fares after sharp fuel price cut

VND/USD exchange rate to fluctuate no more than 2% in 2015

 VietNamNet Bridge – The State Bank of Vietnam will continue to pursue its current dong/dollar exchange rate stabilization policy in 2015. Vietnamese dong depreciation, if it occurs, will not be higher than two percent.

BUSINESS IN BRIEF 26/11

UMA nation's top furniture retailer; Five VN firms in ASEAN 100 list; HCM City failing to meet SOE equitisation goal; Investors buy still-unfinished apartments; CPI falls on lower transport costs;

SBV sets new rules to prevent big companies from dominating stock market

 VietNamNet Bridge – The stock market has been stirred up with the news that credit institutions’ loans to investors to fund their stock investment must not be higher than 5 percent of the institutions’ chartered capital.

SBV to fine banks for poor ATM services

 VietNamNet Bridge – The State Bank of Viet Nam (SBV) will be imposing penalties for the first time on banks offering poor quality Automated Teller Machines (ATM) service.

BUSINESS IN BRIEF 1/11

SBV slashes deposit rate cap; Vietham attracts FDI from ASEAN countries; Home loans still hard to come by; Trade surplus hits $1.87b as high-value exports rise; State-owned firms misused funds: MoF

Guidance on foreign loans

VietNamNet Bridge – The State Bank of Viet Nam issued Circular 25/2014/TT-NHNN on 15 September 2014 to guide registration of foreign loans not guaranteed by the Government and changes made to their terms and conditions.

State banks told to buy back state-owned institutions’ bank stakes

The Prime Minister’s new decision requires the central bank (SBV), or state-owned commercial banks appointed by SBV, to buy back capital contributed by state-owned institutions to credit institutions.

Licenses of two foreign banks revoked

VietNamNet Bridge – The central bank has withdrawn the licenses of two foreign banks, Laos-Vietnam Joint Venture Bank and Credit Agricole Bank, according to a State Bank of Vietnam’s report to the National Assembly Standing Committee.

SBV forecasts credit growth of 12%-14%

 The country's total means of payment next year will increase roughly by 16% to 18% against December, according to the State Bank of Vietnam (SBV).

Former Agribank head arrested

 VietNamNet Bridge – Do Tat Ngoc, former chairman of the Viet Nam Bank for Agriculture and Rural Development (Agribank), has been arrested for alleged intentional violations of State regulations on economic management.

SBV battles to control bad debts

 VietNamNet Bridge – Total funds provided to cover any risk reached VND77.3 trillion (US$3.6 billion) by the end of June, up 10.9 per cent over the 2013-end figure.

BUSINESS IN BRIEF 2/9

SBV yet to mull deposit rate ceiling cut; Chinese goods imports into HCMC shrink; Fibre industry on the rise; OTT market sees fierce competition; Int’l community supports agricultural restructuring

Banks suffer to build risk funds

 VietNamNet Bridge – Several small Vietnamese banks have posted losses in Q2 after setting aside risk provision funds to control risks and push ahead with restructuring.

SBV yet to act on bitcoin exchange

 VietNamNet Bridge – It's been a week since the Viet Nam real-time bitcoin exchange was launched, but the public is yet to see the authorities take action against crypto-currencies as they had promised.

Banks cancel plans to increase chartered capital

VietNamNet Bridge – Most banks have had to cancel or delay their plans to increase chartered capital because of current economic conditions.