Vietcombank has warned about a new form of fraud, impersonating bank staff to support biometric updates, to steal banking details.

A new regulation on reducing the bank credit limit for large customers under the amended Law on Credit Institutions, will adversely affect both banks and large enterprises, experts said.

Foreign customers, who do not have chip-based ID cards, can visit bank branches and bank staff will guide them to register biometric information directly at the counter.

Banks will need to issue new Tier-2 capital bonds to replace maturing bonds and bolster their capital adequacy ratios, said experts.

With the new regulation requiring face authentication for money transfers of 10 million VND or more, accounts not in the owner's name or opened with "borrowed" documents will be eliminated.

Despite low interest rates, bank deposits have reached a new historic peak of VND16 quadrillion (US$628.5 billion) as of the end of March, according to the latest data from the central bank.

The excessive ownership ratio and cross ownership among banks, and between banks and businesses, have declined considerably but problems still exist, according to the State Bank of Vietnam (SBV).

The State Bank of Vietnam has sent a document to provincial and municipal people’s committees encouraging efforts to prevent the trading of students’ payment accounts.

Biometric verification will be mandatory for new mobile banking users and large transactions, but many users report difficulties updating their data by the July 1 deadline.

Vietnam Report has unveiled the list of the Top 10 Prestigious Vietnamese Commercial Banks for 2024. The award ceremony, organized by Vietnam Report in collaboration with VietNamNet Newspaper, will be held in August 2024 in Hanoi.

The settlement of weak banks has faced difficulties as the work mainly depends on the voluntary participation of well-performed banks, the State Bank of Vietnam (SBV) has said.

Many commercial banks have been unable to pass the test for a user protection scheme. More than 21 percent of banking apps lack protection schemes, or have schemes that can be easily overcome by hackers.

The State Bank of Vietnam, the central bank, is struggling to find partners for a bank restructuring plan that forces three problem banks to be transferred.

Industry experts have predicted a potential increase in deposit interest rates by 0.5 to 1 percentage point in the second half of the year, placing the rate at over 6 per cent per year.

Many banks are planning to sell shares to foreign investors with the aim of attracting more diverse capital and enhancing competitiveness.

Following a decision from the State Bank of Vietnam, after July 1st, biometric information such as fingerprints and facial recognition will be required to finalise transactions of VNĐ10 million or more.

The State Bank of Vietnam (SBV) has proposed using credit scoring to better manage the banking sector and promote the development of finance and fintech companies.

Three months after Techcombank's Auto-Earning feature on its mobile e-banking app was introduced in January, its slogan - "Let your money work" - has become a social media trend in Vietnam.

The government has finished the valuation of three banks for mandatory acquisition.

The dollar has surged by 5.9 per cent against the VNĐ since the beginning of the year, severely hurting domestic businesses’ financial performance in the first and second quarters of 2024.