State Bank of Vietnam (SBV) headquarters in Hanoi. (Photo: VNA)

Banks urged to cut interest rates for epidemic-hit firms

The State Bank of Vietnam (SBV) has urged domestic and branches of foreign credit institutions to offer a cut in loan interest rates for businesses affected by the acute respiratory disease caused by the SARS-CoV-2 (COVID-19) which is taking toll on the regional economies.
Banks offer preferential interest rates for enterprises affected by Covid-19

Banks offer preferential interest rates for enterprises affected by Covid-19

Amid the context that the outbreak of an acute respiratory disease caused by the novel coronavirus (Covid-19) is happening complicatedly, causing negative impacts on economic growth, the State Bank of Vietnam (SBV) ordered commercial banks not to increase interest rates, including mobilizing interest rates.
Credit quality of real estate sector continues to be controlled

Credit quality of real estate sector continues to be controlled

Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam – Ho Chi Minh City Branch (SBV-HCMC Branch), reported to the State Bank of Vietnam (SBV) at a meeting on January 10 that the city’s banking industry’s capital mobilization nearly reached VND2.5 quadrillion last year, an increase of 13.5 percent compared to that in 2018, lower than the country’s total capital mobilization of 14.3 percent.
Commercial banks lower interest rates

Commercial banks lower interest rates

After the State Bank of Vietnam decided to lower the ceiling interest rates on loans and deposits in Vietnamese dong from November 19, a slew of commercial banks have started reducing interest rates.
Reference exchange rate up on September 17

Reference exchange rate up on September 17

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 2 VND3,135 per USD on September 17, up VND5 from the previous day (September 16).
Remittances to HCMC reach US$3.45 billion in eight months

Remittances to HCMC reach US$3.45 billion in eight months

According to the State Bank of Vietnam – Ho Chi Minh City Branch, overseas remittances to the city were estimated to reach US$3.45 billion in the first eight months of this year and are expected to exceed $5 billion this year.
US dollar exchange rate hits new record

US dollar exchange rate hits new record

The State Bank of Vietnam on September 3 listed the reference exchange rate at VND23,139 per dollar, an increase of VND6 per dollar over the last weekend, the highest level since the beginning of this year.