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The State Bank of Vietnam ( SBV; Vietnamese: Ngân hàng Nhà nước Việt Nam) is the central bank of Vietnam. Organized a ministry -level body under the Government of Vietnam, it is the sole issuer of the national currency, the Vietnamese đồng. [3] As of 2024 it holds over USD 100 million in foreign exchange reserves. [2]
Citibank Vietnam exited the Vietnamese market in 2022 and sold local operations to United Overseas Bank (Singapore) [2] Siam Commercial Bank. Bangkok Bank. Bank of America. BNP Paribas (including Ha Noi and Ho Chi Minh branch) [3] Hong Leong Bank. CIMB Bank. Barclays. Natixis.
Vietnam, [d] [e] officially the Socialist Republic of Vietnam ( SRV ), [f] is a country at the eastern edge of mainland Southeast Asia, with an area of about 331,000 square kilometres (128,000 sq mi) and a population of over 100 million, making it the world's fifteenth-most populous country.
Banking in Vietnam started in 1976 with the State Bank Vietnam, which became the central bank of the country. Vietnam's banks suffer from low public confidence, regulatory and managerial weakness, high levels of non-performing loans (NPL), non-compliance with the Basel capital standards, and the absence of international auditing.
The dong ( Vietnamese: đồng) ( / dɒŋ /; Vietnamese: [ˀɗɜwŋ͡m˨˩]; sign: ₫ or informally đ in Vietnamese; [2] code: VND) has been the currency of Vietnam since 3 May 1978. [3] [4] It is issued by the State Bank of Vietnam. [5] The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, having ...
The Joint Stock Commercial Bank for Investment and Development of Vietnam ( Vietnamese: Ngân hàng Thương mại Cổ phần Đầu tư và Phát triển Việt Nam ), commonly known as BIDV, is a Vietnamese state-owned bank in Vietnam. It is the country's biggest bank by assets ($72 billion USD) as of June 2021. [4] [5] According to the ...
According to DBS Bank in 2019, Vietnam's economy has the potential to grow at a pace of about 6%-6.5% by 2029. Vietnam can overpower Singapore's economy by the next decade because of its strong foreign investment inflow and productivity growth. [58] However, Vietnam has surpassed Singapore just a year later.
A series of economic and political reforms launched in 1986, known as Đổi Mới, caused Vietnam to experience rapid economic growth and development, becoming a lower middle-income country. The World Bank (WB) has maintained a development partnership with Vietnam since 1993. As of 25 March 2019, it has committed a total of US$24 billion in ...