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Last week the State Bank of Vietnam continued reducing diverse regulatory interest rates in a bid to help remove impediments for borrowers, as well as support credit institution efforts to drive down input costs, and from there be able to reduce lending rates.
Given the challenging economic environment, the performance of numerous banks is rather bleak, particularly due to the mounting bad debt levels.
The State Bank of Vietnam (SBV) is set to further reduce regulatory interest rates on May 25, the third cut in a row since mid-March, expected to give a boost to the stagnant real estate market.
Decisive action taken by Vietnam’s central bank on restructuring failing banks signifies a considerable stride towards revamping and fostering a sound financial landscape.