Bank

The forex market has been under significant pressure since the US announced countervailing duties in early April, despite a global easing of the US dollar's strength. Nonetheless, experts assess that the Vietnamese Dong will show positive signs by year-end, with a 'not-so-bad' trade deal on the table.

"The Prime Minister has directed the Ministry of Public Security to collaborate with the Ministry of Science and Technology, the State Bank of Vietnam, and relevant agencies and businesses to initiate a comprehensive campaign. This campaign entails a thorough review of bank accounts and phone SIM card registrations to strengthen state management and prevent the rising tide of online fraud and scams. This proactive step underscores the government's commitment to safeguarding its citizens in the digital arena."

In the week of May 12-16, 2025, the US dollar continued its upward trajectory in the international market following the trade agreement between the US and China.

In a recent development, an impressive 22 out of 27 listed banks trimmed their operating expenses in the first quarter of 2025, with some making significant reductions. However, Sacombank and KienlongBank bucked the trend, with a surprising surge in their operating costs. As a result, Sacombank now ranks as the fifth-highest spender among listed banks, just behind the big four state-owned giants.

Amid the ongoing wave of job cuts across many banks, Dr. Chau Dinh Linh, a finance expert from Ho Chi Minh City University of Banking, shared his insights with the Bank Times correspondent. He asserted that this strategic move is a well-planned step for banks to realign their operations and meet the evolving demands of the new economic landscape.

"In May 2025, Military Bank (MB) is offering a competitive interest rate of up to 5.8% p.a. on savings accounts for individual customers who deposit their money for a period of 24 months or more in the Central and Southern regions. Customers in other regions can still take advantage of an attractive interest rate of up to 5.7% p.a., making MB a great choice for those looking to grow their savings."

On May 14, the price of gold took a steep dive, plummeting below the $3,200 per ounce mark.

On May 14, 2025, Nam A Bank, in collaboration with Microsoft Vietnam and Sun Viet Technology and Telecommunication Development Joint Stock Company (SVTECH), hosted a signing ceremony for the Digital Transformation Strategy Implementation Project in Ho Chi Minh City.

In the latter half of May, no less than three banks will finalize their shareholder registers to facilitate dividend payments.

The morning witnessed a unanimous drop in USD exchange rates across banks, with fluctuations more pronounced than previous sessions. Domestic gold prices also took a hit, plunging by 2 to 2.5 million VND per tael.