Banking & Finance

Despite the declining trend overall, 49% Vietnam CEOs in particular, share a positive outlook for business growth in the year ahead.

Foreign banks have decided to boost consumer finance loans as the business segment is forecast to maintain double digit growth this year.

In January, tax revenue stood at VND166.7 trillion (US$7.17 billion), equivalent to 11% of the year's plan and up 4.8% year-on-year.

With five new banks included in this year’s Brand Finance Banking 500, the total number of Vietnamese banks in the global top 500 banks in brand value hits nine.

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

Fitch Ratings believes larger, more established finance companies are better-placed to meet the new requirements while newer, smaller companies that concentrate on cash loans may find it harder to shift their business models.

Good liquidity accompanied steep losses in recent days, and steep falls in the market prompted buying.

Vietnam’s stock market over the last few days has gradually recovered and rebounded, said Vice Minister of Finance Vu Thi Mai.

Banks could consider restructure debt payment period or lower interest rates for enterprises and individual customers facing difficulties from the epidemic.

Up to 64% of respondents in Vietnam applied for online credit in 2019 at least once.

If the psychological thresholds of 890-900 of the VN-Index are not breached, the market may recover in the short term.

The selloffs in Vietnam tracked losses in major Asia markets as fears over the ongoing coronavirus outbreak in China continued to weigh on investor sentiment.

All four major state-run banks, including Vietcombank, Vietinbank, Agribank and BIDV, are expected to qualify for Basel II standards in 2020.

Fears of the nCoV, also known as the Wuhan virus, have sent major bourses in Asia and Europe tumbling.

For years, investors were willing to back losing businesses to gain market share. But now, there is more scrutiny of new investments.

Green project financing has become a global trend in the banking and finance industry and it opens another channel for Vietnam to pursue green growth.

By the end of 2025, Vietnam targets to have at least 80% of adults in the country to have bank accounts and the number of non-cash transactions to expand 20 – 25% annually.

Total assets of commercial banks under state ownership accounted for 42.7% of the total in the banking sector, followed by joint stock commercial banks with 41.6%.

The stock market usually goes up in ten sessions after the Lunar New Year holiday with a strong increase in trading volume and value.

Vietnam's stock market remains appealing to both domestic and foreign brokerage houses.