The JSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performing credit institution and the largest contributor to the State budget among the listed ones in 2021.
Hanoi (VNA) – TheJSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performingcredit institution and the largest contributor to the State budget among thelisted ones in 2021.
The bank, with over 50percent of its charter capital owned by the State, fulfilled and surpassed the targetsfor last year despite the continued abnormal socio-economic changes, Chairmanof its Board of Directors Pham Quang Dung told the bank's meeting in Hanoi on January10.
In 2021, it mobilised 1.154quadrillion VND (almost 51 billion USD) from individuals and organisations, up9.5 percent from the previous year.
Outstanding loans wereestimated at 963.6 trillion VND, rising 15 percent from the end of 2020. Meanwhile,non-performing loans (NPLs) were maintained at 0.63 percent of the total,lowest among the large-scale credit institutions.
Vietcombank contributed about11 trillion VND to the State budget last year.
Besides, it pushed ahead withmeasures supporting pandemic-hit businesses, individuals, and households, suchas providing concessional loans, reducing fees and lending interest rates, andrestructuring loans. It assisted clients with interest rate cuts worth 7.1 trillion VND, more than doubling the sum in 2020 and raising the two-year figureto 10.8 trillion VND.
In 2022, the bank looks toincrease its total asset value by 8 percent, pre-tax profit by at least 12percent, and credit by 12 percent year on year while keeping the NPL rate atunder 1.5 percent./.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the third time this year to some commercial banks to meet rising capital demands at year-end.
Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).
Many banks have recently offered to sell mortgaged assets, mainly real estate, worth billions of VND, to recover debts amid the recovery of the realty market.
The State Bank of Vietnam (SBV)’s expansion of credit growth quotas for commercial banks has created favourable conditions for lenders to boost lending, contributing to supporting capital sources for individuals and firms to recover after the COVID-19 pandemic.
Credit institutions warn of a continuous increase in credit risks in the first half of 2022, according to a survey on credit trends by the State Bank of Vietnam’s Forecast and Statistics Department.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
A transaction office of Vietcombank (Photo: VNA) 
