Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) announced it would lower deposit rates from 0.3 to 0.6 percentage points per year for short-term deposit from two weeks earlier. Currently, the interest for a one-month term deposited at Techcombank is 2.7 per cent per year. … [Read more...] about Despite lower interest rates, people still put money in banks
Banking
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
Techcombank, VIB and Military Bank are currently the top three gainers in life insurance premium revenues in the banking industry. However, VDSC expects the market share will change next year when many new players with high reputation and large customer scale, such as Vietcombank and ACB, will also participate more actively in the business segment. … [Read more...] about Bank service revenue to grow next year
Banks bet on consumer credit growth
“In the coming time, the SBV will continue to encourage the promotion of consumer loans, but the amount of growth will depend on the absorption capacity of the economy. Currently, the demand for consumer loans is feeble in the context of unstable jobs and declining income resulting from the pandemic,” said Hung. “However, banks and consumer finance companies cannot churn out loans inconsiderately for fear of incurring bad debts.” … [Read more...] about Banks bet on consumer credit growth
Mastercard launches central bank digital currencies (CBDCs) testing platform
Sheila Warren, Head of Blockchain, Digital Assets and Data Policy at the World Economic Forum, said: “Collaborations between the public and private sectors in the exploration of Central Bank Digital Currencies can help central banks better understand the range of technology possibilities and capabilities available with respect to CBDCs. Central banks can benefit from support in exploring the option set available to them with respect to CBDCs, as well as gaining insight into what opportunities may be forthcoming.” … [Read more...] about Mastercard launches central bank digital currencies (CBDCs) testing platform
