The fact that the State Bank trades non-SJC bullion gold as per the newly issued Circular No. 06 has helped commercial banks make fat profits.

International experts have warned that the bad debts, worth hundreds of trillions of dong would still be the big challenge for the Vietnam’s national economy for at least several years.

VietNamNet Bridge – The State Bank of Viet Nam is likely to continue assigning different credit growth limits to local credit institutions this year, 

 VietNamNet Bridge – The State Bank of Vietnam (SBV) has asked Bui Quang Tien, head of the Payment Department, to explain his comments concerning ATM customers.

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Whether the domestic gold price decreases to come closer to the world price depends on the amount of gold the State Bank would put into circulation and the people’s confidence on the bank’s policies.

VietNamNet Bridge – PM Nguyen Tan Dung on March 4, officially allowed the State Bank of Viet Nam to trade gold bars in efforts to stabilise the local gold market and to stock gold bullion for the State foreign exchange reserve.

VietNamNet Bridge – The changes in the criteria and the method for bad debt classification will surely make the bad debt ratio increase sharply.

The police have set up a committee to investigate the origin of the fabricated information, speculation about that the President of the Bank for Investment and Development of Vietnam was arrested.

VietNamNet Bridge – The total assets of the domestic banking system expanded 2.54% in 2012, equivalent to VND 126 trillion (US$6 billion), according to the State Bank of Viet Nam (SBV).

Observes have commented that the unsettled big problems would put a heavy burden on the Governor of the State Bank--Nguyen Van Binh on the next year of his term.

VietNamNet Bridge – The stabilizing of the dong/dollar exchange rate over the last two years has made the local currency depreciate by 20 percent, which has hindered exports.

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 VietNamNet Bridge – The State Bank of Vietnam (SBV) sometimes said it would make local gold prices closer to the world’s prices, sometimes said it would not, and lately has announced it will join the gold market to bridge the price gap.

VietNamNet Bridge – A big amount of foreign currencies has been sold by people recently since they, after weighing pros and cons, decided that it would be better to keep dong than dollars.

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People have complained that they have nowhere to deposit gold. Banks have said they are meeting a trouble that they still cannot collect debts because the loans have yet come matured, while they have to stop mobilizing gold deposits by June 30, 2013.

 VietNamNet Bridge – Pham Thanh Tan, former CEO of Vietnam Bank for Agriculture and Rural Development (Agribank), the local largest state-owned bank has been arrested on vague charges of ‘wrongdoings’, an official has said.  

Once the State Bank tightens the management over the gold market by setting higher requirements on gold trading entities, a black market would be established.

 VietNamNet Bridge – The State Bank of Viet Nam on Tuesday, Jan 8, granted gold bar trading licences to seven more firms, bring the total number of bullion traders nation-wide to 38.