Most credit institutions upbeat about business performance in 2022
A majority of credit institutions are optimistic about their business performance in 2022, according to the latest survey by the State Bank of Vietnam (SBV).
A customer at a VietinBank office in Hanoi (Photo cafef.vn)
Hanoi (VNS/VNA) - A majority of credit institutions are optimistic about theirbusiness performance in 2022, according to the latest survey by the State Bankof Vietnam (SBV).
The SBV’s survey on business trends of credit institutions in the first quarterof 2022 released this week showed 95 percent of credit institutions expecttheir pre-tax profit to grow this year, while 3 percent expect it to beunchanged and 2 percent are worried about decreasing profits.
Credit institutions believe their profits recovered and improvedsignificantly in the fourth quarter of 2021, thus raising expectations foran improvement over the entire year.
As for Q1 2022 alone, 49.5 percent of credit institutions forecast theirbusiness results to grow compared to the fourth quarter of 2021.
According to credit institutions, credit policies, interest rates and exchangerates of the SBV are still the most important factors to help them improvebusiness performance. Meanwhile, the main factors hindering their growthinclude low demand, business conditions and financial conditions of clients,which are expected to improve in 2022.
The liquidity of the whole banking system is expected to remain abundant, withmore improvements over the first quarter of 2022, compared to the fourthquarter of 2021.
The survey results show most credit institutions estimated the bad debt of theentire banking system would rise slightly in the fourth quarter of 2021, butthey expect it to reduce slightly in the first quarter of 2022.
Credit growth of the banking system is forecast to increase by 5.3 percent inthe first quarter of 2022 and 14.1 percent over the whole of 2022, slightlyrevised lower than the forecast of 14.3 percent in the previous survey.
Interest rates are also projected to remain stable in the first quarter of 2022and may increase slightly at the end of 2022./.
For the time ahead, the State Bank of Vietnam (SBV) will keep a proactive and flexible monetary policy basing on market developments and forecasts for the macro-economy, SBV Deputy Governor Dao Minh Tu told a meeting on April 22.
Three credit institutions have committed to sponsoring the national flag carrier Vietnam Airlines to get loans worth 4 trillion VND (173.67 million USD), an official from the State Bank of Vietnam (SBV) said on June 21.
The State Bank of Vietnam (SBV) is consulting on a draft circular for incentive policies to support firms with access to bank loans to overcome difficulties in the COVID-19 pandemic.
By the end of the third quarter, the credit of the Foreign Trade Joint-stock Bank (Vietcombank) was 923,385 billion VND (40.550 million USD), an increase of 11.5 percent over the whole of 2020 and representing 98 percent of this year’s plan, according to the lender.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
A Government Office notice on the Deputy PM’s conclusions at a recent meeting to review construction progress of the plants stressed that accelerating the development of power sources is essential and urgent to ensure energy security and meet the demands of two-digit socio-economic growth in the coming period.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
A customer at a VietinBank office in Hanoi (Photo cafef.vn) 
