Bank

As per the latest announcement from the Payment Department of the State Bank of Vietnam, banks are expected to close all accounts that have not undergone biometric verification by September. This proactive measure is aimed at curbing fraud and preventing potential misuse by criminals. Since the implementation of biometric verification, over 86 million accounts, which could potentially be dormant, fraudulent, or inactive, have been identified and will be purged from the system.

The once-plummeting deposit interest rates have now stabilized. As of the beginning of this month, only Bac A Bank, HDBank, and Vikki Bank offer interest rates above 6% per year, mainly for deposits of over 13 months and large amounts.

"I embrace the responsibility of doing things differently, but with a deeper impact. It's about delving into the heart of beliefs, processes, and the very essence of banking in an economy that is profoundly shaping an era of transformation."

"After a significant decline, deposit interest rates are stabilizing. As of the beginning of this month, only three banks, Bac A Bank, HDBank, and Vikki Bank, offer interest rates above 6% per year, mainly for long-term deposits of 13 months or more and substantial amounts."

The commercial banks have pledged a credit package worth VND 7.8 trillion for 100 social housing projects. This significant financial commitment underlines their support for the development of much-needed social housing initiatives across the country.

The State Bank of Vietnam (SBV) has approved in principle for Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) to increase its charter capital by a maximum of VND 3,783 billion. This move will be facilitated through two equity issuances to existing shareholders.

The proposed amendments to the Law on Credit Institutions have captured the attention of lawmakers and the public alike. With a focus on delegating authority to the State Bank, legalizing Resolution 42, and enhancing mechanisms for seizing secured assets, this draft law is poised to be a game-changer for economic and social development. By addressing critical issues such as unblocking capital, tackling bad debt, and fortifying the banking system's safety, these amendments are expected to have a profound impact on the country's financial landscape.

"VietinBank is revolutionizing the way it supports construction contractors in the public sector by accepting 'receivables' from construction contracts as collateral. The bank is at the forefront of innovative policies, making it easier for contractors to access affordable capital and finance their projects with ease."

This morning, the USD exchange rate at banks surged to a new high as the State Bank of Vietnam increased the daily reference exchange rate by 12 VND.

"From AI-composed melodies tailored to individual emotions to nationwide marathon events, Ms. Thai Minh Diem Tu - Director of Marketing at Techcombank - is redefining what it means to be a modern and ambitious banking brand. With her innovative approach, the bank aims to connect with diverse customer segments while celebrating national pride."