The rate of Techcombank is lower compared to the average rate of 3.5 per cent per year applied at four commercial banks with State capital and much lower than the ceiling interest rate of 4.25 per cent per annum regulated by the State Bank of Viet Nam (SBV). … [Read more...] about Despite lower interest rates, people still put money in banks
Banking system
SBV tells banking industry to develop an inclusive finance system
Considering an inclusive finance system, which serves all stakeholders of society, as one of the important pillars in sustainable development in Viet Nam, Anh said: “Such a system will contribute to creating livelihood opportunities, rotating investment capital flows and saving in society and promoting sustainable economic growth.” … [Read more...] about SBV tells banking industry to develop an inclusive finance system
Bank service revenue to grow next year
The rise was lower than the 25-32 per cent growth rate in the last seven consecutive years due to the influence of the COVID-19 pandemic, but VDSC believes the growth has been showing signs of recovery and the bancassurance segment would continue to grow well and be the main driver of banks’ service income. … [Read more...] about Bank service revenue to grow next year
Banks bet on consumer credit growth
However, CIs seem to tighten their requirements on collateral and credit ratings of customers to prevent from default risks. Funds allocated for real estate, securities, and consumer loans are among the most exposed to a variety of risks. In the first six months, CIs have met customers’ borrowing demands at a higher level than in the second half of 2019, with 88.7 per cent of CIs satisfying 75-100 per cent of loans requirements. … [Read more...] about Banks bet on consumer credit growth
Mastercard launches central bank digital currencies (CBDCs) testing platform
“Mastercard is driving innovation with the public sector, banks, fintechs, and advisory firms in the exploration of CBDCs, working with partners that are aligned to our core values and principles. This new platform supports central banks as they make decisions now and in the future about the path forward for local and regional economies,” added Dhamodharan. … [Read more...] about Mastercard launches central bank digital currencies (CBDCs) testing platform
