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Though bad debts increased in the third quarter of this year (3Q24), they are expected to slow in the near future as macroeconomic factors are supporting the handling of the debts.
Several banks have recently announced startling performance results in the third quarter of 2024 (3Q24) and the first nine months of 2024 (9M24).
HANOI: Individual customers’ banking deposits hit a record high of more than 6.83 quadrillion dong as of the end of July 2024, data from the State Bank of Vietnam show.
Banks are under pressure to increase cheap capital sources, as the cost of capital is a vital factor for banks’ profit growth.
HANOI: Nearly 20 commercial banks have adjusted deposit rates since the beginning of this month, with most lowering rates.
The bad debt ratio in the banking system skyrocketed from 2% at the beginning of this year to 3.56%, or more than 440 trillion dong, at the end of July 2023, according to the latest data from the State Bank of Vietnam (SBV).
