Agribank

Many banks have reached their respective credit limits in the first nine months of 2021.

Banking sector is set to post a strong growth of 21-28% year-on-year in pre-tax profit in 2021, subsequently leading to higher value of banks stocks.

Customers are urged to stay cautious against rampant scam and fraud activities ahead of Tet holidays.

Under the new regulation, state-owned commercial banks where the state holds more than 50% can now be able to raise their registered capital to maintain the government control.

State firms that have completed the privatization process are expected to float shares on local bourses and create space for more foreign investors to invest in the local stock market.

While the banking has to continue its efforts to deal with bad debts, credit institutions are required to support the economic recovery efficiently, said Prime Minister Nguyen Xuan Phuc.

Four major state-run banks account for nearly half of total deposits in the banking sector.

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

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.

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%.