Business News

Digital transformation in banking requires banks to quickly and strongly shift to digital services in the online environment in order to effectively interact with customers in the front-end, as well as requiring changes in back-end processes to support front-line transitions and improve operational efficiency through increasing digitization and automation.

Deputy Prime Minister Le Minh Khai has signed and released Decision No.448/QD-TTg approving Vietnam’s programme on public debt management for 2022-2024 as well as a strategy on public debt borrowing and payments for the remainder of this year.

Banks are penning out upbeat profit targets for 2022, leveraging sound credit demands buoyed by the economic rebound both at home and globally.

The Government has agreed to a proposal by the State Bank of Vietnam (SBV) to extend the pilot bad debt settlement of credit institutions based on Resolution 42/2017/QH14.

The market opened the week on a negative note, with both benchmark indices losing more than 1 per cent, as selling pressure weighed on investors' sentiment from the beginning of the session.

According to the experts, the participation of real estate companies in banks can adversely influence these banks’ lending practices. Leaders of real estate companies, who are also ultimate owners of certain banks, can channel more loans to their real estate projects, online newspaper bnews.vn reported.

Resolution on fiscal and monetary policies supporting the socio-economic recovery and development programe was ratified at the 15th National Asembly's first extraordinary session (January 4-11, 2022).

More initiatives from the government to develop the real estate industry, particularly taxation and credit limitation, are believed to lay a foundation for curbing land speculation, maximising residential properties and creating a set of diversified financing options.