The State Bank of Vietnam (SBV) should increase US dollar reward rates, kept at 0 percent for the last one year, to suit world market changes, attract foreign currency for economic development and prevent the source from running abroad.
The State Bank of Vietnam (SBV) has tightened credit flow into the real estate sector which has been in an uptrend since early this year while HCMC Real Estate Association has warned of a virtual fever in property prices in some districts.
Unlike the trend in recent years, the banking system this year saw strong credit growth hitting 3.14 percent as of March 23 compared to the end of 2016, reported the State Bank of Vietnam (SBV) on Wednesday.
Governor of the State Bank of Vietnam (SBV) Le Minh Hung says that the Politburo has approved a restructuring project to this year handle five banks comprising three banks purchased at zero dong by SBV, DongA Bank and Sacombank after merger to ensure the safety of the banking system in the upcoming time.
The State Bank of Vietnam (SBV) on Friday announced that it had made a decision approving the merger of Phuong Nam Bank (PNB) and Saigon Thuong Tin (SacomBank) and ending the management role of Mr. Tram Be and his son Tram Khai Hoa at Sacombank.
Overseas remittances to HCMC reached US$5 billion last year with the strongest increase in December, reported Mr. Nguyen Hoang Minh, deputy director of the State Bank of Vietnam (SBV) in the city on January 10.
The banking sector will focus on restructuring DongA Bank and Sacombank and handling three banks namely OceanBank, GPBank and VNCB which have been purchased at 0 dong by the State Bank of Vietnam (SBV).