brave-ledger-verification=c6e7ae9820dff1923729e2a580efb43dfca7423b9cad80885864c1acc8eb2a22

Tag Archive for ‘SBV’

Vietnam lawmakers debate ways to reinvigorate economy

HA NOI (VNS)– Questions about how to provide businesses with access to loans, settle bad debts, manage the gold market and ensure dam safety fueled a heated question and answer session yesterday between National Assembly deputies and Government officials. Answering a question about the gap between world and domestic gold prices, State Bank of Viet Nam governor Nguyen Van Binh said that when the domestic gold price went up, the government in the past had to import gold to stabilize the market, which could negatively affect foreign currency reserves. He said the government had…

Vietnam’s Money Market: Stable But Worrisome

Unlike the same period of the previous year, this year, money market is quite stable. Commercial banks are merely showing signs of dong interest rate race. Meanwhile, in some banks, signals of interest declining are becoming clearer. Long term deposit rate (more than 12 month term) of many banks got reduced by 0.5-1 October Less […]

VND252Tln Debts Have Been Restructured by Sept 30 2012, Says SBV Governor

As many as VND252 trillion debts have been restructured by the end of September this year, Governor of the State Bank of Vietnam (SBV) told legislators at a meeting today [Nov 13], the local online newspaper TTVN.vn reported. Total lending of the whole banking sector climbed to VND2,700 trillion, the central banker said. Local lenders have set aside VND75 trillion for loan loss provisions, up VND14 trillion from last year. VND12 trillion bad loans were tackled by banks’ own provisions, the Governor added. Many credit institutions reported non-performing loan ratio at modestly 1-3% while the central bank assessed…

Vietnam’s Bank Chief To Be Queried Over Irresponsible Comment

Nguyen Van Binh, governor of the State Bank of Vietnam, has received 361 requests from National Assembly delegates to make a formal explanation on Tuesday over a statement he made last week. With such number of requests, Binh is the Government member having received the most questions after stating “as the governor of the State Bank of Vietnam, I could not promise anything about the handling of non-performing loans (NPL), or bad debt,” in a National Assembly (NA) meeting…

Need to urgently establish asset management company under SBV to tackle Vietnam’s bad debts

When bad debt threatens the safety of the banking system and the stability of the macro economy, the bad debt settlement needs to have the intervention of the government, even using the state budget or internal or external loans. Seeing that bad debt of banking industry is caused by various reasons and that it reflects […]

Gold molds of non-SJC producers sealed up

The State Bank of Vietnam has received gold bullion molds from five institutions that have been licensed to produce gold bars in order to seal and supervise, its Ho Chi Minh City branch has announced. The five licensed gold bullion producers include the Asia Commercial Bank, Southern Bank, Sacombank SBJ, Agribank Gold Joint Stock Corporation, and the Phu Nhuan Jewelry Co (PNJ). “The said companies have transferred their gold molds to the central bank,” said Nguyen Hoang Minh, deputy director of the SBV HCMC branch. The move was made following the…

Vietnam Central Bank Unveils Five Sectors with Highest Bad Debts

The State Bank of Vietnam (SBV) has recently revealed five industries where nearly VND96 trillion or 80.49% of total non-performing loans of the economy pinned down, the local newswire VnEconomy.vn reported. In details, processing and manufacturing sector made up 4.33% of total lending and represented 22.5% of total bad debts. The corresponding figures were 7.83% and 19.25% for real estate and services; 4.16% and 18.52% for automobiles sales and repairing; 11.61% and 11% for transportation and logistics; 4.81% and 9.5% for construction. The central bank has been developing the scheme to set up a debt trading company to…

Vietnam’s Banking System Health Declining

HCMC – The State Bank of Vietnam (SBV) has unveiled a number of basic indicators of the banking sector, which show the health of the banking system had weakened by end-September, reflecting the decline of the economy. As of September 30, the total assets of the system had fallen by 1.89% compared to end-2011. In […]

Vietnam Credit Growth On The Right Track

Total lending for non-production sectors decreased by 1.1% as of August 31 while credit for production industry increased considerably during this period. Lending concentrated in production sector The figures revealed that lending was concentrated in prioritised industries, which is in accordance with the Government’s policy to encourage credit for production industries. The State Bank of Vietnam (SBV) has announced statistics on credit growth and lending for production and non-production sectors. As of September 25, credit growth in the banking system reached 2.56% compared to December 31, 2011. Credit in VND was up 4.49% and down by 5.2% in USD. As of August…

Vietnam State Bank To Buy Back Gold

HA NOI (VNS)— The State Bank of Viet Nam (SBV) has announced plans to buy back gold from the public in a bid to resolve the problem of gold hoarding by wary savers. Speaking before National Assembly deputies at their most recent meeting, SBV’s Governor Nguyen Van Binh said the scheme would be the main effort to mobilize gold from the public, safeguarding the country’s economic development, while also benefiting the gold owners. In addition, the central bank will reorganize gold bar purchasing networks by granting licenses to businesses and credit institutions which are…