Banking & Finance

The market liquidity at HoSE this morning session exceeded VND21.7 trillion (US$944.8 million), triggering the system alarm.

A GDP growth of 5.8% in 2021, nearly double the 2.9% growth last year, would boost credit demand.

By 2025, at least 50% of banking procedures and 70% of customers’ transactions are expected to take place in the cyber environment.

Local investors continued to dominate the market as their foreign peers remained net-sellers for the 10th consecutive trading session.

The application of digital technologies would help promote transparency and fairness in state budget management.

The finance ministry would allocate VND3 trillion (US$130 million) from the state budget for the Covid-19 fight.

The Vietnamese government will support boosting the application of new payment methods to achieve the digital transformation goals of the banking industry.

Local authorities are urged to ensure the quality, price, and use of state assets in a transparent and public manner.

While western banks are having limited presence in Vietnam, their Asian peers have greater interests in the country.

This was a fourth consecutive year that Vietnam remains in the top 10 in terms of remittance.

Elevated consumer leverage could drag down future consumer spending, especially as labor market conditions have been severely impacted by the pandemic.

With a net inflow of US$370 million from exchange-traded funds (ETFs) in April, Vietnam for the first time topped the Chinese market (US$319 million) as a favorable destination for investment fund.

Credit pumping into real estate takes a large share in the total outstanding loans, following by corporate bonds and stock market.

The benchmark Vn-Index rose 4.1% in April and is up 12.4% year-to-date, outperforming the global emerging markets (GEMs), the Asia ex-Japan, and frontier market indices.

The participation individual investors and margin expansion in upcoming times from share issuance of securities firms are serving as key driving forces to boost market growth.

Monetary policy should be maneuvered in a flexible and active manner to ensure sustainable growth and stability of both monetary and foreign-exchange markets, said the Party chief Nguyen Phu Trong.

Positive sentiment among investors led to the expansion of three consecutive trading sessions by 20 points before the break, leading to the Vn-Index standing at nearly 1,240 on April 29.

By 2030, artificial intelligence (AI) and virtual assistant could be used to help provide digital financial services for the people and enterprises via digital communication channels.

The city by 2045 is expected to become a financial and economic hub of Asia and an attractive global city with GRDP per capita of US$37,000.