The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership limit for credit institutions that receive the compulsory transfer of weak credit institutions to 49 per cent.
The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14 per cent limit on December 5.
The expansion of the credit room by 1.5-2 percentage points would mean an addition of VND156-200 trillion ($6.5-8.3 billion) being injected into the economy.
The Asian Development Bank (ADB) on December 6 announced that it has greenlit a $50 million policy-based loan under Subprogram 1 of its Trade and Competitiveness Program to support government efforts to diversify the economy, better enable local businesses to compete globally, and boost Covid-19 recovery.
The government plans to provide an additional $100 million to the state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) to broaden the scope of its lending and create opportunities for the Kingdom’s smaller businesses to have better footing, expand operations, and fuel economic growth in the post-Covid-19 era.
Vietnam's central bank said on Monday it had raised its 14% cap on the local banking system's credit growth for this year by 1.5-2.0 percentage points.
There is a fast-growing trend across the world to digitalize the entire global financial and banking systems. Digitalization is being believed to be a great driver of economic growth.
Vietnam Bank for Social Policies has been praised by the delegation of the Asia-Pacific Rural Agricultural Credit Association (APRACA) on a Vietnam visit to attend the recent international workshop on “Pro-Poor Rural and Agricultural Finance Best Practices: Experiences of Vietnam.”
At the announcement ceremony of the Vietnam Corporate Sustainability Index (CSI) Enterprises 2022 on December 1st, Home Credit was honored among the Top 100 Sustainable Companies (CSI100), proving its excellence in meeting the rigorous criteria of this recognition.