Tag: sbv

A+ is the highest grade in Global Finance's 2025 Central Banker Report Cards.

The country's lenders are at the vanguard of an ambitious plan to digitise the economy, but significant challenges still lie ahead.

The decision is meant to reduce red tape and simplify business operations for Vietnam's banks and credit institutions.

The State Bank of Vietnam's auction sees subdued participation amid volatile global gold prices.

The State Bank of Vietnam has made south going moves in its gold auction strategy to gain more traction with buyers.

The State Bank of Vietnam will auction 16,800 taels (approximately $664,000 USD) of SJC gold bars, with a reference price of $3,233 USD per tael.

Deputy Governor Dao Minh Tu discusses State Bank's efforts to stabilize SCB and maintain financial system integrity at first-quarter press conference.

The State Bank of Vietnam has begun selling US dollars to curb a rapidly appreciating exchange rate, offering relief to banks with negative foreign currency positions.

Central bank gives approval for increase from VND30.67 trillion ($1.3 billion) to VND36.64 trillion ($1.56 billion).

Before the State Bank of Vietnam decided to increase the operating interest rate from October 25, Yuanta said the increase would negatively affect the valuation of stocks. However, bank stock valuations remain very attractive.

Circular No. 12/2022/TT-NHNN from the State Bank of Vietnam (SBV) on foreign exchange management in foreign borrowing and repayments by enterprises will take effect from November 15. Enterprises must publish monthly online reports on their website on foreign loans and repayments that are not guaranteed by the government.

The State Bank of Vietnam (SBV) has recently injected more than VND18.6 trillion ($779.22 million) into the market through open market operations (OMO) to support system liquidity, especially during the trading session on October 10.

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.

Under a recently-issued government Resolution, the State Bank of Vietnam needs to implement prudent and firm monetary policy, ensuring the flexibility to control inflation and stabilize the macroeconomy. In particular, it should be ready to sell foreign currencies when necessary to intervene and stabilize the market.

KB Securities Vietnam (KBSV) has said that if banks use up the new credit limit, then credit in the industry as a whole will increase about 13.2 per cent compared to the beginning of the year. Therefore, the State Bank of Vietnam (SBV) can loosen the limit again, from 0.5-1.2 per cent, to achieve the annual target of 14 per cent.

The State Bank of Vietnam (SBV) has simultaneously increased the refinancing interest rate to 5 per cent per annum, the rediscount rate to 3.5 per cent per annum, the maximum interest rate for demand deposits and terms of less than one month to 0.5 per cent per annum, and term deposits from one month to less than six months to 5.0 per cent per annum. Rates on overnight loans in interbank electronic payments and loans from the SBV to cover capital shortfalls in clearing payments to credit institutions and foreign bank branches is 6.0 per cent per annum.

At a press conference announcing results in the banking industry in the third quarter of 2022, Ms. Ha Thu Giang, Deputy Director of the Credit Department for Economic Sectors at the State Bank of Vietnam (SBV), said that as of September 16, credit in the economy had increased 10.47 per cent compared to the end of 2021 and 17.19 per cent year-on-year.

The Viet Dragon Securities Corporation (VDSC) has forecast that from now until the end of the year, the State Bank of Vietnam (SBV)’s monetary policy management will face major challenges from the US Fed raising interest rates and the global economic outlook being less optimistic. Vietnam’s economy is also likely to face more difficulties in 2023.

According to a State Bank of Vietnam (SBV) survey, although credit institutions believe that credit demand will continue to improve in the second half of 2022, the SBV’s operating point of view is still relatively cautious in the face of inflationary pressure as well as the devaluation of the VND. It emphasized maintaining credit growth in 2022 at 14 per cent.

The State Bank of Vietnam (SBV) is researching a decree on a controlled trial mechanism for financial technology (fintech) activities in the banking sector, for submission to the government for promulgation this year. The central bank will also focus on helping credit institutions and foreign bank branches in Vietnam receive foreign aid and concessional loans to finance projects on the green classification list.