Taking advantage of the upcoming Tet holiday, when demand for online transactions, payments, gifts and to send lucky money increases, many hacker groups are stepping up their fraudulent activities aimed at users of banking services and e-wallets.

Many listed banks witnessed weak performance of fee income growth in the first six months of the year due to the Covid-19 pandemic.

The State Bank of Vietnam could increase credit growth limits for credit institutions this year or even launch stronger monetary policies to aid the country’s post-pandemic growth, Governor Le Minh Hung has said.

The State Bank of Vietnam (SBV) and the Ministry of Industry and Trade have affirmed that they have not licensed Zalo Bank to provide online built-in financial services.

Non-cash payment activities have developed strongly in recent years with many payment services such as digital banks and e-wallets.

Vietinbank (CTG) has approved a plan to sell 50 percent of its holdings in the bank’s financial arm Vietinbank Leasing Company Limited.

Non-cash payments have increased sharply in recent time in Viet Nam, but more efforts are needed to increase their rate, experts said.

As of May 29, Vietnam’s credit growth was only 1.96% compared with late 2019 under impacts of the Covid-19 pandemic, the Credit Department announced at a press conference held by the State Bank of Vietnam (SBV) Friday.

The State Bank of Viet Nam is planning to pilot a regulatory sandbox which would allow fintech companies to participate in providing some banking services starting from 2021.

Financial firms extended loan dues for more than 223,000 borrowers whose outstanding loans stood at VND151 trillion (US$6.49 billion) by May 25, according to the State Bank of Vietnam.

The State Bank of Vietnam (SBV) is expected to further take monetary easing measures to support the country’s GDP growth target of above 5 per cent this year in light of a weak economic outlook, experts forecast.

The outstanding loans of twelve inefficient projects under the Ministry of Industry and Trade totalled US$905 million as of the end of 2019, most were overdue, according to the Government’s report to the National Assembly.

Total assets of credit institutions and foreign banks in Vietnam by the end of the first quarter of this year inched down 0.72 per cent to VND12.48 quadrillion (US$521.76 billion) compared with the end of last year.

Credit institutions in Viet Nam settled more than VND26.94 trillion (US$1.17 billion) of non-performing loans (NPLs) in the first quarter of this year.

The State Bank of Viet Nam's branch in HCM City has set up a hotline (028) 38.211.230 to provide assistance to enterprises, especially for those badly affected by the COVID-19 pandemic.

Moody's Investors Service has placed the long-term ratings and assessments of three Vietnamese finance companies and two Vietnamese banks on review for downgrade.

Vietnam International Bank (VIB) has been given a US$70 million loan from three international finance institutions, Taiwanese Cathay United Bank, Industrial and Commercial Bank of China's branch in Hong Kong and Bank of Communications.

Credit institutions have so far supported more than 44,000 COVID-19 affected customers following directions from the State Bank of Viet Nam (SBV), an official reported on Monday.

Seventeen out of 45 commercial banks slashed the fees for interbank transfers of small sums worth less than VND500,000 ($21.5).