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.
Hanoi (VNA) – TheJSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performingcredit institution and the largest contributor to the State budget among thelisted ones in 2021.
The bank, with over 50percent of its charter capital owned by the State, fulfilled and surpassed the targetsfor last year despite the continued abnormal socio-economic changes, Chairmanof its Board of Directors Pham Quang Dung told the bank's meeting in Hanoi on January10.
In 2021, it mobilised 1.154quadrillion VND (almost 51 billion USD) from individuals and organisations, up9.5 percent from the previous year.
Outstanding loans wereestimated at 963.6 trillion VND, rising 15 percent from the end of 2020. Meanwhile,non-performing loans (NPLs) were maintained at 0.63 percent of the total,lowest among the large-scale credit institutions.
Vietcombank contributed about11 trillion VND to the State budget last year.
Besides, it pushed ahead withmeasures supporting pandemic-hit businesses, individuals, and households, suchas providing concessional loans, reducing fees and lending interest rates, andrestructuring loans. It assisted clients with interest rate cuts worth 7.1 trillion VND, more than doubling the sum in 2020 and raising the two-year figureto 10.8 trillion VND.
In 2022, the bank looks toincrease its total asset value by 8 percent, pre-tax profit by at least 12percent, and credit by 12 percent year on year while keeping the NPL rate atunder 1.5 percent./.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the third time this year to some commercial banks to meet rising capital demands at year-end.
Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).
Many banks have recently offered to sell mortgaged assets, mainly real estate, worth billions of VND, to recover debts amid the recovery of the realty market.
The State Bank of Vietnam (SBV)’s expansion of credit growth quotas for commercial banks has created favourable conditions for lenders to boost lending, contributing to supporting capital sources for individuals and firms to recover after the COVID-19 pandemic.
Credit institutions warn of a continuous increase in credit risks in the first half of 2022, according to a survey on credit trends by the State Bank of Vietnam’s Forecast and Statistics Department.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A transaction office of Vietcombank (Photo: VNA) 
