AI's role in banking sector
Banks worldwide now recognize the benefits AI can provide in banking operations and customer access.
Topic: banking sector
PM seeks effective credit solutions to boost production and trade
The banking sector makes an important contribution to economic growth, PM tells January 8 conference.
Banks must prepare to respond to non-financial risks
Risk management has become an extremely important task for all banks.
PM asks banking sector to tackle difficulties in real estate
Central bank directed to adjust policies to help boost the property market.
Q3 banking profits up strongly
SSI Research has published a report on the estimated business results of 26 companies in the third quarter of this year. Twenty-four are forecast to post profit growth while two are forecast to see a fall in profits. Banking profits are believed to have grown strongly in the third quarter despite interest rate hikes putting pressure on the net interest margin (NIM). The leading banks in terms of profit were Vietcombank, BIDV, ACB, and VPBank.
Banks face challenges in maintaining high profit growth
A recent report from the Agribank Securities Company (Agriseco) noted that the banking sector will face challenges maintaining profit growth in 2022 and 2023 at levels recorded in 2020 and 2021. Growth has declined amid insufficient space for credit growth, while Net Interest Margins (NIM) face pressure from rising deposit rates as lending rates prove difficult to increase.