Lending interest rates unlikely to decline sharply

Lending interest rates unlikely to decline sharply

Many economic experts said that with the current credit scale of over VND10 quadrillion if banks reduce the lending interest rate by 0.5 percent per annum, enterprises will have tens of trillions Vietnamese dong more to overcome difficulties. However, these experts also said that they barely expected a deep and wide wave of interest rate cuts because banks are enterprises themselves, so they must consider carefully when they give loans.
Banks direct credit flow into manufacturing, business sectors

Banks direct credit flow into manufacturing, business sectors

By the end of June this year, credit growth is estimated at 5.5-6 percent compared to the end of last year. With this growth rate, a representative of the State Bank of Vietnam (SBV) said that the credit growth target of 12 percent would still be achieved by the end of this year. The SBV will closely monitor macroeconomic developments, the situation of the pandemic domestically and internationally to direct credit growth to focus on lending to the fields of production and business and contribute to promoting economic development.
Many business loan packages with preferential interest rates launched

Many business loan packages with preferential interest rates launched

The State Bank of Vietnam Ho Chi Minh City Branch (SBV-HCMC Branch) has recently asked local credit institutions to continue implementing solutions to support and remove difficulties for borrowers affected by the Covid-19 pandemic according to the regulations on debt repayment rescheduling, exemption, and reduction of interest rates and fees, and new loans following Circular No.01/2020 and Circular No.03/2021 of the SBV.
More than VND3.5 quadrillion of loans given with low-interest rates

More than VND3.5 quadrillion of loans given with low-interest rates

The State Bank of Vietnam (SBV) said that to support people and businesses affected by the Covid-19 pandemic, credit institutions have provided new loans with lower interest rates than before the pandemic, with an accumulated loan outstanding balance from January 23, 2020, to now exceeded VND3.5 quadrillion.
Overseas remittances to Vietnam in 2020 reach US$17.2 billion

Overseas remittances to Vietnam in 2020 reach US$17.2 billion

According to the latest updated global remittance data that the World Bank (WB) has just announced, the amount of overseas remittances to Vietnam in 2020 was US$17.2 billion, instead of $15.7 billion as previously estimated.
SBV orders circulation of denominations of currency at reasonable ratio

SBV orders circulation of denominations of currency at reasonable ratio

According to the State Bank of Vietnam (SBV), recently, the Governor of SBV has issued a document directing its Transaction Center and branches to balance the structure ratio of all types of denominations of currency in circulation, ensuring the issuance rate of the VND500,000 notes in circulation following the regulations of SBV and increasing the issuance of small notes from VND10,000 downwards.
Credit estimated to reach 2 percent in first three months

Credit estimated to reach 2 percent in first three months

Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam (SBV) branch in Ho Chi Minh City, said that by the end of the first quarter of this year, the growth of credit outstanding balance in the city surged by about 1.8 percent compared to the beginning of this year.
Startups can get concessional loans

Startups can get concessional loans

According to the State Bank of Vietnam (SBV) Ho Chi Minh City Branch, up to now, the Bank - Enterprise Connection Program has had more than 10 commercial banks in the city registered to commit to lending about VND300 trillion at preferential interest rates this year.