“I was so lucky to put my gold-selling money in the bank instead of buying more gold when the gold prices went lower. If I had not done that, I would have been lost the profit I gained from the gold-selling as the gold prices went down sharply and suddenly," she told Viet Nam News. … [Read more...] about Despite lower interest rates, people still put money in banks
Banking
SBV tells banking industry to develop an inclusive finance system
By 2015, NFIS set targets to have at least 80 per cent of adults having bank accounts or accounts with other authorised organisations, at least 20 branches and transaction offices of commercial banks per 100,000 adults, at least 50 per cent of the total number of communes that have financial service points, at least 25 per cent to 30 per cent of adults depositing at savings credit institutions. … [Read more...] about SBV tells banking industry to develop an inclusive finance system
Bank service revenue to grow next year
The rise was lower than the 25-32 per cent growth rate in the last seven consecutive years due to the influence of the COVID-19 pandemic, but VDSC believes the growth has been showing signs of recovery and the bancassurance segment would continue to grow well and be the main driver of banks’ service income. … [Read more...] about Bank service revenue to grow next year
Banks bet on consumer credit growth
For instance, Techcombank reaffirmed its prime focus on real estate and personal lending, in which home loan accounts for 44 per cent of the retail debt structure. Techcombank only focuses on groups with high incomes and good repayment ability. For instance, Sun Group and Vingroup made up for a total 70 per cent market share, thus, the bank has chosen them as major customers in the resort segment. … [Read more...] about Banks bet on consumer credit growth
Mastercard launches central bank digital currencies (CBDCs) testing platform
The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers. Central banks, commercial banks, and tech and advisory firms are invited to partner with Mastercard to assess CBDC tech designs, validate use cases and evaluate interoperability with existing payment rails available for consumers and businesses today. … [Read more...] about Mastercard launches central bank digital currencies (CBDCs) testing platform
