January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
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December 30, 2011
Strong small banks should be allowed greater lending growth A local commercial bank’s employee counts money next to piles of dong notes in Hanoi on Monday The application of different credit caps on different banks based on their operational capacity is expected to correct a situation where banks with customers cannot offer loans while [...]
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December 25, 2011
After years of sky-rocketing credit growth to finance development, Vietnam’s banking system is now weighed down by toxic loans that have forced the communist nation to launch tough reforms. The Southeast Asian country’s financial sector consists of about a hundred banks — either state-owned, private or foreign bank branches. But most have only limited [...]
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December 19, 2011
Vietnam needs to implement the restructure of both small and large banks in a drastic manner, an economist says. The central bank has approved the merger of three small banks – Ficombank, Saigon Commercial Bank, and Vietnam Tin Nghia Bank – that are mired in liquidity problems. The restructure of banks will continue for the [...]
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November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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October 17, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Bank depositors are shifting their funds to other investment channels after the central bank ordered commercial banks to comply with a 14 percent ceiling on dong deposit interest rates. Several banks have said their deposits are [...]
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October 16, 2011
Many banks are facing liquidity problems The Vietnam Banks Association plans to propose a lower deposit interest rate ceiling of 13.5 percent for large banks, saying it would help small lenders. All banks in Vietnam are now subject to the same deposit ceiling of 14 percent, which industry insiders say would hurt small banks in the long [...]
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October 1, 2011
Vietnam’s central bank said it will cap interest rates on dong deposits that are non-term and those less than a month at 6 percent to address “liquidity risks,” amid concerns about the health of the nation’s banking system. The State Bank of Vietnam will maintain the existing 14 percent rate cap on deposits of [...]
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September 24, 2011
Workers clean the Keangnam residence tower in Hanoi September 20, 2011. Like many hoping for easy cash in Vietnam’s property market, Nguyen Thu Huong borrowed VND500 million ($24,000) from a bank in April to buy a new flat she didn’t need and planned to flip. The only question, she thought, was how big the [...]
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September 20, 2011
Employees at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, attend to customers in Hanoi. Several commercial banks announced lending interest rate cuts, but companies complain they are being denied access to the lower rates. Major lenders like VietinBank and Vietcombank have lowered dong lending rates for loans to businesses and manufacturers to [...]
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