HÀ NỘI PROMOTES FINANCIAL INCLUSION ECOSYSTEM
The Hà Nội People's Committee has issued an action plan to ensure that all its citizens and businesses, particularly priority groups, have equal and comprehensive access to basic financial products and services. Plan 323/KH-UBND aims to carry out the National Financial Inclusion Strategy within the city through 2030.
SERVICE SEGMENT BECOMES KEY SUSTAINABLE PROFIT SOURCE FOR BANKS
Instead of just racing for expansion, banks have been focusing more on service ecosystems to make them a key pillar for more sustainable profitability, according to recently released data. Financial statements from the first half of 2026 released by 28 banks revealed impressive results, with total net fee and commission income of the banks surging by 50 per cent year-on-year to nearly VNĐ52.63 trillion (US$1.99 billion) in the first half of this year.
BANK COUPON RATE HITS RECORD HIGH OF 10% PER YEAR
Amid surging demand for capital, commercial banks have been ramping up bond issuance, with rates reaching a record high of 10 per cent per year. Sacombank has recently announced the completion of three private bond placements in July, raising a total of VNĐ3.65 trillion (US$139 million) to raise medium- and long-term capital, strengthen financial capacity, enhance risk resilience and meet regulatory capital requirements.
GOV’T PROPOSES REDUCING INCOME TAX BY 30% FOR BUSINESS WITH REVENUE OF VND10 BLN
The Government is preparing to submit to the National Assembly a proposal to reduce income tax by 30 percent in the 2026–2027 period for business households, individuals, and enterprises with annual revenue up to VND 10 billion (US$381,621). The Government also proposes a 30 percent reduction in personal income tax for micro-enterprises with annual revenues of up to VND 10 billion in 2026 and 2027.
REMITTANCES TO HO CHI MINH CITY TOP $4BN IN H1 2026
Remittances sent to Ho Chi Minh City topped US$4 billion in the first half of 2026, down nearly 23 percent year on year, despite a modest recovery in the second quarter. The city received more than $2.03 billion in remittances in the second quarter. Tran Thi Ngoc Lien, deputy director of State Bank of Vietnam’s region 2 branch, said the second quarter was the first quarter this year to see remittances to Ho Chi Minh City increase from the preceding quarter, although the pace of recovery remained modest.
VIETNAM APPROVES ROADMAP FOR INT’L FINANCIAL CENTERS THROUGH 2035
Vietnam has approved a development plan through 2035 for its international financial centers, with the one in Ho Chi Minh City positioned as a comprehensive global financial hub. Deputy Prime Minister Nguyen Van Thang, chairman of the governing board of the Vietnam International Financial Center, has signed the decision approving the development plan.
VIETNAM NEEDS OVER $200BN FROM STOCK MARKET IN NEXT 5 YEARS
Speaking at the event, Bui Hoang Hai, vice-chairman of the State Securities Commission of Vietnam, said total investment demand in the 2026-30 period is estimated at VND38,000 trillion ($1.4 trillion). The state budget can only provide approximately VND8,500 trillion ($323 billion), or 20 percent, leaving the remaining 80 percent to be sourced from private and international capital.
BANK PROFITS EXPECTED TO REMAIN RESILIENT IN Q2
The banking sector is expected to post another quarter of profit growth in the second quarter of 2026, supported by solid credit expansion, although earnings are likely to become increasingly uneven across lenders as pressure on net interest margins and asset quality persists. A recent report by MB Securities (MBS) showed that profit after tax at the banks under its coverage is forecast to increase by around 15 per cent year-on-year in the second quarter.
