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Budget revenue from land and personal income taxes exceed plans
Banking & Finance

Budget revenue from land and personal income taxes exceed plans

The Ministry of Finance has said that of the five revenue sources that exceeded estimates in the first nine months, the collection of house and land taxes did so by 18.4 per cent and the collection of personal income taxes by 8.8 per cent. However, many analysts believe that budget revenue from land is still quite low compared to many other countries.
Banking & Finance

$1.2bln in corporate bonds redeemed before maturity in September

An update from the Vietnam Bond Market Association (VBMA), the Hanoi Stock Exchange (HNX), and the State Securities Commission (SSC) puts the total value of bonds redeemed before maturity at VND28.833 trillion ($1.2 billion) in September, up 199 per cent over the same period last year. The total value of bonds bought back by businesses in the first nine months of 2022 was VND142.209 trillion ($5.9 billion), up 67 per cent year-on-year.
Banking & Finance

4 more banks allowed to expand credit

The State Bank of Vietnam (SBV) has officially adjusted the credit limit for four banks - Vietcombank, HDBank, MB, and VPBank - in a bid to support weak credit institutions under government policy. An additional VND83.5 trillion ($3.49 billion) will be injected into the economy following the move. The credit growth limit at 18 banks has now reached 13.6 per cent.
Budget revenue from land and personal income taxes exceed plans

Budget revenue from land and personal income taxes exceed plans

The Ministry of Finance has said that of the five revenue sources that exceeded estimates in the first nine months, the collection of house and land taxes did so by 18.4 per cent and the collection of personal income taxes by 8.8 per cent. However, many analysts believe that budget revenue from land is still quite low compared to many other countries.
Target set of 10 million Mobile Money users by 2023

Target set of 10 million Mobile Money users by 2023

At the launch of a money transfer service between Mobile Money and bank accounts on October 6, Deputy Governor of the State Bank of Vietnam Pham Tien Dung said that after eleven months of pilot implementation, as of the end of August there were about 2.2 million Mobile Money users in the country, of which 68 per cent were in rural or remote areas. He said a goal has been set of 10 million people using Mobile Money by 2023.
Capital for green growth to come from many sources

Capital for green growth to come from many sources

Capital demand for green growth is quite large and long-term, so the burden of provision should not be put solely on the shoulders of the banking sector. According to Deputy Governor of the State Bank of Vietnam Pham Thanh Ha, “In the 2021-2030 period, to realize green growth, the government will focus on promoting resources from commercial loans and private investment such as green credit and green corporate bonds.”
$1.2bln in corporate bonds redeemed before maturity in September

$1.2bln in corporate bonds redeemed before maturity in September

An update from the Vietnam Bond Market Association (VBMA), the Hanoi Stock Exchange (HNX), and the State Securities Commission (SSC) puts the total value of bonds redeemed before maturity at VND28.833 trillion ($1.2 billion) in September, up 199 per cent over the same period last year. The total value of bonds bought back by businesses in the first nine months of 2022 was VND142.209 trillion ($5.9 billion), up 67 per cent year-on-year.
4 more banks allowed to expand credit

4 more banks allowed to expand credit

The State Bank of Vietnam (SBV) has officially adjusted the credit limit for four banks - Vietcombank, HDBank, MB, and VPBank - in a bid to support weak credit institutions under government policy. An additional VND83.5 trillion ($3.49 billion) will be injected into the economy following the move. The credit growth limit at 18 banks has now reached 13.6 per cent.
Interbank interest rates cool down

Interbank interest rates cool down

Liquidity in the banking system has risen in recent times, helping to cool interbank interest rates. The overnight interbank interest rate has fallen from more than 8.35 per cent per annum to 7.72 per cent. According to the Vietnam Interbank Market Research Association (VIRA), liquidity is forecast to be less of an issue but still not abundant.

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