Prospects for credit growth and exchange rates will create favourable conditions for non-bank corporate bonds to recover in the final months of this year, analysts forecast.

The number of Mobile Money service users in Vietnam reached more than 8.8 million customers by the end of May, an increase of 3.3% over the same period last month.

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 24,245 VND/USD on July 16, unchanged from the previous day.

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market, promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent and effective manner in accordance with the Prime Minister's direction.

Credit growth will be the main focus for the banking industry in 2024, as it closely relates to economic growth, according to analysts.

Prime Minister Pham Minh Chinh has signed to issue an official dispatch asking for measures to strengthen the management of the domestic gold market.

All stakeholders from the Government, ministries, sectors, to banks, people and businesses must join hands together with highest responsibility in promoting national economic growth, ordered Prime Minister Pham Minh Chinh at a conference in Hanoi on December 7 to discuss way to tackle difficulties in credit growth for production and business, and promote economic growth and macro-economic stability.

Vietnam and Cambodia have officially launched a bilateral cross-border QR payment link, allowing their peoples to scan QR codes to make payments in each other’s country using their local currency.

Transactions with a value of 400 million VND (16,520 USD) or more must be reported to the State Bank of Vietnam (SBV) from December 1, according to a new decision issued by the Prime Minister.

Thanks to drastic efforts by the Government, credit growth is expected to increase positively in the last months of this year, helping ease difficulties for businesses and propelling forward the development of the economy.

The banking sector of the northern province of Bac Giang will roll out measures to speed up loan disbursement and improve credit growth for local socio-economic development, according to the provincial branch of the State Bank of Vietnam (SBV).

Amid considerable changes in the global investment trend in many important real estate segments, Vietnam has still been one of the destinations drawing great interest from investors thanks to the positive recovery capacity and the flexibility of the country’s economy, according to a recent report from Savills Vietnam.

Prime Minister Pham Minh Chinh on July 27 signed to issue a document clarifying measures to enhance businesses’ access to credit.

The United Overseas Bank (UOB)’s Global Economics & Market Research Unit has lowered its 2023 economic growth forecast for Vietnam from 6% to 5.2% amid many challenges ahead.

With emerging technologies such as AI and blockchain, Việt Nam has the ability to leverage data connectivity to create ‘an integrated payment ecosystem’ to promote cashless payments, experts said at a meeting last Friday in HCM City.

The State Bank of Vietnam (SBV) is cutting down a series of key interest rates by 0.25%-0.5% from June 19, which is expected to make a double impact on the economy thanks to stronger credit activities and higher liquidity.

Through a series of newly-issued regulations and access to the national population database, banks are planning to expand their online money-lending services.

Reducing interest rates, maintaining interest subsidies, hiking credit limits, and providing unsecured loans to manufacturing businesses are among the demands made by businesses in the south-eastern region to the State Bank of Vietnam (SBV).

Non-cash payment transactions witnessed a significant surge in the first two months of this year, indicating a notable shift in customers’ behaviour towards modern financial services.