Recently released financial statements of the third quarter of this year of commercial banks showed that banking industry has continued to flourish with extremely positive profit growth, in which a large part was contributed by revenue from services.
The State Bank of Vietnam (SBV) has warned Vietnamese credit institutions and foreign banks in the country to be cautious before working with peer-to-peer (P2P) lending companies as there are many risks related to the service.
Credit institutions have spent over VND357 billion (US$ over 15 million) to subsidize pig breeding farm owners who lost their animals amid outbreak of African Swine Fever (ASF), a representative from the State Bank of Vietnam said at a yesterday press brief .
A majority of credit institutions in the country expect an upward trend in their business in 2019 after gaining good results last year, according to a State Bank of Vietnam (SBV) survey released recently.
The Governor of the State Bank of Vietnam (SBV) has sent Document 7295 requiring credit institutions and foreign banks’ branches to keep a close eye on credit growth rate in foreign currencies to ensure their operation safety.