Vietnam bad bank to stimulate growth in NPL-ridden banking sector
An asset management company set up by the State Bank of Vietnam (SBV) is slated to go live in July this year, but spurring lending growth will remain challenging as bank profitability remains under pressure.
The SBV has cut rates eight times since 2012, with the refinancing rate coming down to 7% from a high of 15% in the first quarter of last year, and the discount rate also falling 800 basis points over the same period to 5%. Most recently, the central bank cut both rates by 100bp in May this
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