Pre-tax profits of listed banks are forecast to rise by 45.2 per cent in 2018 (File Photo)

Tightened monetary policy forecast for Q4 2018

The State Bank of Vietnam (SBV) will likely continue its tightened monetary policy in the remaining months of the year after its decision to strictly control lending to high risk sectors in the third quarter didn’t adversely affect the country’s economic growth, according to experts.
Governor of the State Bank of Vietnam Le Minh Hung (Photo: VNA)

Foreign exchange reserves hit $63.5 billion

The State Bank of Vietnam (SBV)’s net purchase of foreign currencies exceeded $11 billion in the first half of 2018, increasing the nation’s foreign exchange reserves to approximately $63.5 billion.

Most commercial banks have raised interest rates on property loans because of soaring prices in the market. Photo nld.com.vn

Banks tighten lending rules

Many commercial banks in the country have increased loan interest rates by 1-2 per cent to investors in real estate as property prices continue to rise.


A customer makes transactions at HCM City Development Bank (HDBank). (Photo: VNA/VNS)

Foreign reserves at record $57b

State Bank of Vietnam (SBV) continues to build up its foreign exchange reserves to cushion external shocks, raising the fund to a new record high of more than US$57 billion till February 6.
Banks must ensure ATMs to operate smoothly and safely during the Tet holiday (Photo: SGGP)

SBV to penalize banks for lack of cash in ATMs

The State Bank of Vietnam (SBV) will impose fines on banks if their automated teller machines (ATMs) do not operate because of lack of cash or their subjective errors and report to the SBV Governor before, during and after the Tet holidays.
Credit card holders will not be allowed to withdraw cash at card readers of domestic points of sale (POS) from March this year, says the State Bank of Vietnam (SBV) (Photo: tuoitre.vn)

No cash withdrawal at domestic POS from March

Credit card holders will not be allowed to withdraw cash at card readers of domestic points of sale (POS) from March this year, said the State Bank of Vietnam (SBV).
Forex reserve reaches $54.5 billion: SBV Chief

Forex reserve reaches $54.5 billion: SBV Chief

Governor of the State Bank of Vietnam (SBV) Le Minh Hung said that the bank purchased about US$22 billion foreign currencies in 2016 and 2017, building the total foreign exchange reserves to over US$54.5 billion now.
SBV commits to protecting legitimate rights of depositors

SBV commits to protecting legitimate rights of depositors

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu yesterday advised customers not to follow rumors and withdraw their money to prevent damage as the banking system is operating very well with only few banks still facing some problems.