Vietnam Sbv

Vietnam's foreign reserves could reach $102 billion by year's end.

During the first 10 months of 2022, the State Bank of Vietnam (SBV) was forced to sell an estimated 20% of total foreign exchange reserves to stabilize the exchange rate.

Banks' lending continues to be channeled into priority economic fields rather than high-risk ones, such as real estate or the stock market.

The central bank is ready to sell foreign currency to stabilize the market if needed.

Most banks expected better business results for the fourth quarter and the whole year.

In the last half of 2022, banks may ease loan conditions so that more customers could access credit, given the positive economic outlook and their improving financial capacity.

The banking sector is set to continue promoting the use of non-cash payment methods with greater convenience and safety for the public.

Such a move would help ensure that banks and credit institutions have the means to meet the demand for foreign exchange from individuals and organizations.

The Government’s efforts have resulted in a modest rise of 0.09% in the average interest rates against early 2021.

The National Assembly called for the Government to have a long-term solution to resolve bad debts.