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WB ready to support digitization in banking
Banking & Finance

WB ready to support digitization in banking

In a meeting with the Deputy Governor of the State Bank of Vietnam (SBV), Mr. Pham Thanh Ha, Mr. Zafer Mustafaoglu, Director of the World Bank (WB)’s Department of Finance, Competition and Innovation in East Asia - Pacific, affirmed that it stands ready to support the SBV to develop a modern, inclusive, and resilient financial and banking sector, and supports the central bank in digital transformation, perfecting a legal framework on green credit and banking, and joining the Network for Greening the Financial System (NGFS).
Banking & Finance

PM directs safety of financial and securities markets

Prime Minister Pham Minh Chinh has directed relevant ministries, branches, and agencies to immediately take measures to ensure the security and safety of financial and securities market operations. In particular, the Ministry of Finance (MoF) and the State Securities Commission of Vietnam (SSC) must publish and provide official and truthful information and request that enterprises disclose information in accordance with the law.
Banking & Finance

Individual savings deposits in banks up sharply

In just the first two months of 2022, individual savings deposits in banks reached VND159 trillion ($6.91 billion), higher than the VND158 trillion ($6.86 billion) recorded in 2021 as a whole. According to analysts, this “unusual” movement was mainly due to commercial banks raising their deposit interest rates. The slowdown in other investment channels, such as real estate, securities, and corporate bonds, also resulted in cash flow returning to the banking system.
WB ready to support digitization in banking

WB ready to support digitization in banking

In a meeting with the Deputy Governor of the State Bank of Vietnam (SBV), Mr. Pham Thanh Ha, Mr. Zafer Mustafaoglu, Director of the World Bank (WB)’s Department of Finance, Competition and Innovation in East Asia - Pacific, affirmed that it stands ready to support the SBV to develop a modern, inclusive, and resilient financial and banking sector, and supports the central bank in digital transformation, perfecting a legal framework on green credit and banking, and joining the Network for Greening the Financial System (NGFS).
Banking stocks losing ground

Banking stocks losing ground

Banking stocks are highly regarded by experts, analysts, and most securities companies thanks to the expectation of solid profit growth in 2022. Yet these stocks have begun to take a downwards turn. According to experts, banking stocks grew quite well in the first half of 2021 but there is no longer any momentum. And most leading banks have run out of foreign ownership space.
Banks developing digital transformation strategies

Banks developing digital transformation strategies

Along with network expansion, many banks in Vietnam are focusing on developing human resources, especially highly-qualified human resources, to respond to technology 4.0. According to figures from the State Bank of Vietnam (SBV), 95 per cent of credit institutions have been developing and implementing digital transformation strategies.
PM directs safety of financial and securities markets

PM directs safety of financial and securities markets

Prime Minister Pham Minh Chinh has directed relevant ministries, branches, and agencies to immediately take measures to ensure the security and safety of financial and securities market operations. In particular, the Ministry of Finance (MoF) and the State Securities Commission of Vietnam (SSC) must publish and provide official and truthful information and request that enterprises disclose information in accordance with the law.
Individual savings deposits in banks up sharply

Individual savings deposits in banks up sharply

In just the first two months of 2022, individual savings deposits in banks reached VND159 trillion ($6.91 billion), higher than the VND158 trillion ($6.86 billion) recorded in 2021 as a whole. According to analysts, this “unusual” movement was mainly due to commercial banks raising their deposit interest rates. The slowdown in other investment channels, such as real estate, securities, and corporate bonds, also resulted in cash flow returning to the banking system.
Deposit rates tipped to continue rising

Deposit rates tipped to continue rising

Many banks adjusted their deposit interest rates upwards in the first half of April. With inflationary pressure continuing for the foreseeable future and with demand for credit growing during the economic recovery period, deposit rates are forecast to continue to increase.

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