It signaled a milestone in achieving a cashless society, and was close to the 70-percent rate in many countries in the neighborhood, Le Anh Dung, vice head of the Payment Department under the State Bank of Vietnam, said at a conference on Friday.

An employee counts Vietnamese banknotes at a bank in Hanoi.

Most of people having bank accounts are those in the age of 25-34.

Over 90 percent of banking transactions were done online, and mobile banking transactions had risen by 90 percent.

The banking industry was mulling digitization of all services, including small loans.

The cost-to-income ratio for Vietnamese banks was 30 percent on average, among the highest in the region.

The central bank had collaborated with the Ministries of Public Security and Information and Communication to set up a quick reaction force to respond to security breaches.

Commercial banks were required to spend 15 percent of their investment on IT, and this was periodically inspected by the SBV.

Woman swallows $550 in banknotes, hospitalized

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Vingroup raises $400 mln loan from global banks

Vingroup has secured a $400-million loan from international lenders to fund ‘green’ and sustainable development of its auto unit VinFast and other subsidiaries.

Vietnam’s economy sees positive changes: World Bank

Amid a protracted Covid-19 outbreak, socio-economic data in October showed the contraction has bottomed out and Vietnam's economy has made positive changes, the World Bank (WB) in Vietnam said in its Vietnam macroeconomic update for November released on November 12.

E-commerce platforms bank on year’s biggest sales event

Nov. 11 has become the biggest shopping event of the year in Vietnam as e-commerce giants throw big bucks into promotions, seeking to entrench the online shopping habit among locals.

Banks reduce loan interest by over VND12.2 trillion for pandemic affected clients

A total lending interest reduction of over VND12.2 trillion (US$539 million) was conducted by 16 commercial banks between July 15 and September 30, 2021, to support customers affected by the Covid-19 pandemic.

Source: VnExpress