The State Bank of Vietnam (SBV) has issued a resolution to boost cashless payments in the country.

Two dollar billionaires in the banking sector emerged in 2019, which also witnessed competition that led to big changes in the economy.

Cashless payments grew strongly in 2019, with 635,000 transactions worth a total of VND380 trillion recorded each day, according to statistics from the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) affirmed that regulations are in line with international commitments, which show Vietnam's management rights in the field of payment services.

2019 has been a good year for the banking sector. Most commercial banks performed well with profit results exceeding the targets set earlier in the year.

Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.

A major proportion of bank loans are provided for the business community, particularly the private sector and individuals.

After the lending model collapsed in China, many P2P lenders flocked to Vietnam to seek opportunities in the country.

Daegu Bank of the Republic of Korea (RoK) is preparing to open a branch in Ho Chi Minh City after getting the green light from the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) bought a record high amount of foreign currencies this year. The same is expected in 2020.

When the State Bank of Vietnam (SBV) late last week slashed the dollar purchase price, the greenback prices quoted by commercial banks were adjusted immediately.

 Many banks and finance companies have proactively adopted technologies to provide digital financial services, Nguyen Hoang Minh, a senior central bank official said.

The State Bank of Vietnam (SBV) has warned commercial banks of the risks associated with accepting land-use rights certificates as collateral for loans.

Vietnam’s fintech firms secured two of the top three largest funding deals in ASEAN in 2019.

The State Bank of Vietnam (SBV) has taken steps to tighten regulations over banks’ use of short-term deposits, reducing its ratio used to finance medium and long term loans from 60 per cent now to 40 per cent by September next year.

The number of non-performing loans had been on the rise among recipients under a Government directive (Decision 67/2014/ND-CP) to support Vietnamese fishermen to build or upgrade their fishing vessels.

The State Bank of Vietnam (SBV) has issued a three-year road map, starting from 2020, to restrict commercial banks from using short-term capital to offer mid- and long-term loans to homebuyers.

The Government has announced new regulations regarding the charter capital required by credit institutions.

The International Finance Corporation (IFC) remains a major shareholder of Vietinbank with a nearly 6.5% stake.

This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the central bank increased issuance of bills.