S&P Global Ratings has reaffirmed Techcombank’s issuer rating of BB- with a “stable” outlook, highlighting the bank’s robust profitability, stable capitalisation and strong asset quality.

IFC and Welcome Financial Group (WFG) on June 27 launched a 60 million USD platform to address non-performing loans (NPLs) and enhance access to finance in Vietnam. This initiative will help defaulted borrowers rebuild creditworthiness.

The central bank is focused on encouraging credit institutions to cut expenses, simplify credit granting procedures, and reduce lending interest rates to support the economy, an official has said.

Outstanding credit of the banking system is forecast to increase 4.4% in the first quarter and 14.2% in 2024, up 0.4 percentage point from the previous prediction of 13.8%.

Total non-performing loans (NPLs) at many banks surged in the first half of this year due to the poor business performance of the whole economy, and experts forecast the trend will continue.

An official of the State Bank of Vietnam said the central bank will encourage credit institutions to continue cutting interest rates and extending debt repayment deadlines for enterprises.

The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.

Amid rising non-performing loans (NPLs), many banks have strongly increased their loan-loss reserve (LLR) funds to readily face uncertainties in the future.

Besides interest and exchange rates, non-performing loans (NPLs) are also a concern for banking activities in the remaining months of 2022, experts have warned.

The JSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performing credit institution and the largest contributor to the State budget among the listed ones in 2021.

Credit growth has reached 12.97 percent so far and is likely to hit 14 percent this year, Standing Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said in a press conference on the SBV's governance of monetary policies and banking operation on December 28.

In the face of rising bad debt amid the ongoing COVID-19 pandemic, commercial banks have been forced to write up their loan loss provisions, according to industry sources.

Commercial banks have made public the sale of unsecured consumer debt for the first time in the country.

The Technological and Commercial Joint Stock Bank (Techcombank) has reinforced the strength of its customer centric strategy in delivering strong 2020 financial results.

Non-performing loans (NPLs) among commercial banks increased sharply in the first three quarters of this year due to the adverse impacts of the COVID-19 pandemic.

Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits.

The steering committee for the restructuring of credit organisations held a meeting in Hanoi on July 27 under the chair of Prime Minister Nguyen Xuan Phuc.

Some banks are speeding up the recovery of non-performing loans (NPLs) this year despite the impacts of the COVID-19 pandemic.

The Vietnam Asset Management Company (VAMC) targeted to settle bad debts worth totally 50 trillion VND (2.15 billion USD) this year.

The State-run Vietnam Asset Management Company (VAMC) is in the process of founding a debt trading floor for managing and updating information on debts, according to its latest report.