NEW LENDING RULES TO HELP BANKS: MOODY'S
[17-02-2016] The State Bank of Viet Nam (SBV)'s recent proposals on tightening lending rules would benefit local banks, the rating agency Moody's said on Monday. The SBV early this month issued a request for comment on its amendments to Circular 36, which would set stricter rules on asset-liability management and on providing credit to the real estate sector.
BANK, FINANCE FIRM MERGERS TO PICK UP SPEED
[12-02-2016] The Asia Commercial Bank (ACB) will be the latest bank to join the wave of mergers among commercial banks and finance companies that is expected to become a major trend this year.
EXCHANGE RATE MAY VARY BETWEEN 3-4% IN 2016: VEPR
[25-01-2016] The exchange rate may vary between 3 and 4% in 2016, according to the Viet Nam Institute for Economic and Policy Research (VEPR). In its macro-economic report, the institute analyzed that the foreign exchange market operated in a relatively stable manner in the first half of Q4, 2015 and exchange rates at commercial banks and free market declined since the yuan devaluation.
TRANSPARENCY AND ACCOUNTABILITY
[25-01-2016] Mr Nguyen Van Binh, Governor of the State Bank of Vietnam (SBV), has made imprints that cannot be denied by the most intense caveats. The deactivation of the "second currency" and an acquisition of weak performance banks at zero VND. However, the work of the governor in 2016 involves facing challenges to meet higher demands to ensure a transparent system.
STOCK MARKET: WAITING FOR CASH FLOWS
[20-01-2016] The Vietnamese stock market was rattled on China's stock turmoil. Stock investment becomes risky and unpredictable, even as there is a lot of positive information about Vietnamese economy.
NEW EXCHANGE RATE POLICY REDUCES DOLLAR SPECULATION
[19-01-2016] The new exchange rate management policy has helped reduce the US dollar speculation in the domestic market, an official said at an online discussion yesterday. It has also encouraged organisations and individuals to sell the greenback to commercial banks, the official added.
NEW RULES LAID OUT FOR FOREIGN FINANCIERS IN VIETNAM
[06-01-2016] Foreign credit institutions intending to contribute to establishing non-banking financial companies will be required to have a minimum US$10 billion of assets at the end of the previous year as of February 8. Under Circular 30/2015/TT-NHNN recently issued by the State Bank of Viet Nam, these institutions also have to operate profitably for three consecutive financial years prior to the year they file for licensing.
MONETARY MARKET EXPERIENCING TOUGH DAYS
[06-01-2016] The monetary market on the last days of the year was hot, with the interbank interest rate reaching the year’s peak and the dollar price hitting the ceiling. The watchdog agency had to pump a large amount of money into circulation.
