State Bank Of Vietnam

Kookmin Bank’s decision to raise its branches’ registered capital in just a short period of time indicates the bank is optimistic about business prospects in Vietnam.

Lower policy rates would enable commercial banks to cut interest rates in a more sustainable way, which in turn contribute significantly to economic recovery, said a central bank official.

During the two-month period, deposits from economic institutions in Vietnam’s banking system declined 4.84% against the end of 2019 to VND3,770 trillion (US$161.08 billion).

Vietnam central bank is ready to intervene in the foreign exchange market in case of necessity.

The State Bank of Vietnam is ready to sell foreign currency to ensure forex market stability if necessary.

Fitch Solution revised its forecast for Vietnam’s credit growth to come in at 11% in 2020, from 12.50% previously.

The cut is made to refinancing interest rate, discount interest rate, and interest rate applicable to overnight loans, starting effective from today.

Over 93% of enterprises in Vietnam would benefit from such a prolongation.

Restructuring debt maturities would be considered upon requests from customers and assessment from the banks regarding borrowers’ financial capabilities and their losses.

The central bank is willing to support liquidity for credit institutions, if needed, as they start providing financial support for the economy.