CENTRAL BANK NOT TIGHTEN REAL ESTATE CREDIT: DEPUTY GOVERNOR
The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8. Real estate is a sector contributing considerably to the economy, and this market is linked with other sectors, he told a meeting on real estate credit.
TAX AND LAND-USE FEE REDUCTIONS SHOULD CONTINUE IN 2023: MOF
The Ministry of Finance (MoF) said tax support policies and land-use fee reductions for businesses should be continued throughout 2023 despite shortfalls in state budget collection.
OFFERING MANY PREFERENTIAL CREDIT PROGRAMS FOR BUSINESSES
Playing a key role in the local banking system, Vietinbank Vinh Phuc has always taken the lead in delivering soft credit to businesses and customers who are managing to live through difficulties and reinforce business recovery and development.
VN NEEDS TO MOVE FORWARD ON GLOBAL MINIMUM TAX
Việt Nam needed to take action to come up with appropriate tax policies and adapt to the global minimum corporate income tax, a major pillar of the Organisation for Economic Co-operation Development (OECD)’s base erosion and profit–shifting (BEPS) framework.
BANKS ANTICIPATE UPWARD MOMENTUM IN 2023
Though banks have yet to release their Q4/2022 financial reports officially, industry experts assumed there would be a sharp division in the profit picture among banks, with a ‘comeback’ in the state lenders grouping.
BANKING INDUSTRY DIFFICULTIES FORECAST TO CONTINUE IN 2023: ANALYSTS
Under a report released recently, Viet Dragon Securities Company (VDSC)’s analysts have said the interest income growth of the banking industry in 2023 will slow due to the impact of low credit growth and a decreasing net interest margin (NIM).
BANKS LEND STRONG SUPPORT TO BUSINESS COMMUNITY
The most important funding channel for the Vietnamese economy today is still bank credit. The growth of this channel is currently the highest among funding channels in the market, bringing nearly VND1,400 trillion to the economy. The current support and difficulty sharing by commercial banks not only shows the loyal bank-business relationship, but also helps many banks build more trust, promote their brand names and affirm their responsibility to sustainable development and cooperation with customers.
ENTERPRISES IN HCM CITY RECEIVE CREDIT DISBURSEMENT, BUT RATES REMAIN HIGH
Enterprises in HCM City were receiving the disbursement of loans after the State Bank of Việt Nam (SBV)’s move to lift the credit growth target by 1.5-2 percentage points for 2022 from its earlier target of 14 per cent, allowing banks to lend an additional VNĐ240 trillion (US$9.7 billion).
