Digital transactions at many commercial banks have reached a rate of 97-98%, with the banking sector maintaining annual double-digit increases in both transaction volume and value, said Deputy Governor of the State Bank of Vietnam Pham Tien Dung at a recent workshop.
The domestic gold price continued to rise sharply on October 22 morning, of which SJC-branded gold price increased by VND1 million (US$39.4) per tael to VND89 million (US$3,502) per tael for selling.
The State Bank of Vietnam on October 17 announced a decision on a mandatory transfer of two of the worst performing bank, Ocean Bank and Construction Bank, to the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Military Commercial Joint Stock Bank (MB).
Fifteen Vietnamese banks have been named among the world’s top 500 banking brands recently announced by the global leading brand valuation consultancy Brand Finance, according to the Vietnam Banks Association.
Prime Minister Pham Minh Chinh chaired a meeting on September 21 between cabinet members and leaders of 13 joint stock commercial banks as part of efforts to seek measures aimed at boosting national socio-economic development.
With a sharp depreciation of the US dollar against the Vietnamese dong, the State Treasury has continuously bought large amounts of the greenback from commercial banks.
The State Bank of Vietnam and the Bank of Laos have jointly organised a conference to share experience in promoting the use of respective domestic currencies in bilateral trade and investment cooperation activities to prevent external risks.
Four State commercial banks have disbursed a total amount of VND1,234 billion (US$49.3 million) for social housing projects by the end of the second quarter of 2024.
Banks lent more than VND480 trillion (US$18.88 billion) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6% to the end of Q2.
Taking advantage of the situation where many customers struggle with biometric authentication, fraudsters have impersonated bank employees to assist in biometric installation, aiming to steal user information for illicit gain.
After July 1, transactions exceeding VND10 million per online transfer or VND20 million per day, as well as bill payments exceeding VND100 million, require facial verification, with many commercial banks reporting smooth implementation.
Since the beginning of June 2024, the SBV has approved numerous commercial banks to increase their charter capital through various methods such as dividend distribution, new share issuance, and employee stock ownership plans (ESOP).
Despite low interest rates, bank deposits have reached a new historic peak of VND16 quadrillion (US$628.5 billion) as of the end of March, according to the latest data from the central bank.
From 2:30 p.m. on June 3, the five entities mentioned will initiate the sale of SJC gold bars to individual customers. Starting from June 4, sales will begin at 9 a.m.
The price of SJC gold continued to drop, trading below VND81 million (US$3,171) per tael on Monday morning, narrowing the gap between domestic and international gold prices of VND10.3 million (US$403) per tael.
At 10:45 am on June 4, the four state-owned banks simultaneously announced that the selling price of an SJC-branded gold bar was VND78.98 million (US$3090) per tael, falling VND1 million (US$39) a tael compared to yesterday evening.
The State Bank of Vietnam (SBV) is expected to sell SJC gold through four state-owned joint stock commercial banks as opposed to through auctions from June 3 with the aim of ensuring market stabilisation.
