The State Bank of Vietnam yesterday held a press conference in Hanoi to announce the digital transformation event of the banking industry in 2024.

At the 2024 Techcombank annual general meeting of shareholders on April 20, Chair of the Board of Directors Ho Hung Anh announced that the bank is seeking a foreign strategic shareholder.

A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).

Deputy Governor of the SBV Dao Minh Tu said that capital in the country's banking system remains abundant with full liquidity, even surplus with interest rates currently at a 20-year low, a great condition for businesses to borrow.

Several of Vietnam’s banks are gearing up to list on the Ho Chi Minh Stock Exchange, indicating a notable growth trajectory and an opportunity for capital augmentation.

Fifteen Vietnamese banks are named among the world’s top 500 most valuable banking brands this year according to the Brand Finance Banking 500 2024 ranking. In the recently released ranking.

After declining in the first two months of this year, credit of the banking industry in March increased by 0.26% compared to the end of 2023 to about 13.6 quadrillion VND, the State Bank of Vietnam (SBV) reported.

The State Bank of Vietnam has demanded banks submit links to the section announcing various interest rates before April 1st. If there are changes to the links, they must be updated within two working days.

A decrease in deposit interest rates has been recorded in a number of banks from the beginning of April.

Vietnam Investors Service (VIS Rating) predicts the industry’s return on average assets (ROAA) will recover from wider net interest margins (NIM) and stronger loan growth and support capital generation.

The State Bank of Vietnam (SBV) has issued Decision No. 538/QD-NHNN approving the group of credit institutions and foreign bank branches which play an important role in the country's banking system in 2024.

In the wake of recent massive fund disappearances from bank accounts, the State Bank of Vietnam (SBV) has mandated biometric authentication for online money transfers and e-wallet top-ups exceeding VND10 million, with effect from July 1 this year.

Deposit interest rates are expected to remain low until the middle of 2024, with a slight increase anticipated thereafter due to higher credit demand, analysts said.

Banks must proactively contact credit card holders whose debt is overdue, according to a State Bank of Vietnam (SBV) directive.

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks conduct reviews on their procedures in issuing and managing bank cards.

The draft circular supplements regulations that VAMC can sell collateral of a NPL higher or lower than the principal balance of the NPL.

In order to increase market share of bank cards, banks have been issuing debit cards regardless of whether customers use them or not, which has caused waste.

Nearly 20 commercial banks in Vietnam have adjusted deposit rates since the beginning of this month, with most lowering rates.

The credit rating organisation Moody's announced an update of the outlook for the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) to stable.

It's neither beneficial nor possible at times for commercial banks to make their interest rates public, as instructed in Government Directive No. 18 dated March 5, said industry experts and insiders.