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According to Nghiem Xuan Thanh, Chairman of the State-owned Vietcombank’s Board of Directors, Vietcombank’s bad debt ratio is at 0.61 per cent of total outstanding loans, the lowest level among credit institutions and also the lowest in the history of the bank. … [Read more...] about Banks to make provisions for COVID-19 affected loans this year

Vietnam Central Bank calls for counterfeit cash vigilance With the Lunar New Year Festival (Tet) drawing near and demand of cash increasing, Vietnam's central bank has sounded the alarm over counterfeit money. … [Read more...] about Cash in hand isn’t always what it seems

HCM City (VNA) - Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20. Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu considered abolishing black credit as one of the important tasks that has been continuously implemented across the whole credit institution system in Vietnam. In recent years, the SBV and credit institutions in localities have been cocoordinating with the Ministry of Public Security and local authorities in implementing drastic measures to limit black credit. In the future, the SBV will continue improving the awareness of local people about credit policies, loan packages and procedures for loan applications so that local people could easily access bank loans. Meanwhile, the State Bank will study and soon complete legal documents … [Read more...] about Promoting consumer finance to fight black credit: experts

Resulsts were mixed in the public banking sector, with CTG of VietinBank adding 1.6 percent, VCB of Vietcombank keeping its opening price, BID of BIDV topping losses with 2.7 percent, and MBB of mid-sized Military Bank shedding 0.8 percent. … [Read more...] about VN-Index enters third straight gaining session

Nguyen Duc Thuan, director of the Vietnam Environment Protection Fund under the Ministry of Natural Resources and Environment, shared his experience on loans disbursement and examination. “Before granting loans to any businesses, funds must ensure checking information from the Credit Information Centre, as well as double-check their financial capacity and debt payment ability. As a state-owned fund, the SMEDF should take a very cautious view on conducting evaluation and loan appraisals processes.” … [Read more...] about Caution urged for SME fund processes