16.6 mln banking account owners completing biometric verification
The verification, with facial recognition, aimed at better protecting customers.
Interbank interest rates cool down
Liquidity in the banking system has risen in recent times, helping to cool interbank interest rates. The overnight interbank interest rate has fallen from more than 8.35 per cent per annum to 7.72 per cent. According to the Vietnam Interbank Market Research Association (VIRA), liquidity is forecast to be less of an issue but still not abundant.
Interest rates to remain unchanged
As a popular destination for FDI, Vietnam also welcomes a large inflow of foreign currencies. The country’s banking system has maintained low interest rates, which is in line with ongoing trends, as central banks around the world are applying loosened monetary policy.