In 2020, the credit growth is expected to be in range of 13 – 13.5%, down from 13.7% last year.

Rising foreign investment flow in Vietnam has prompted overseas banks to expand operation in the country.

Nine out of the ten largest cap companies continued to lead the classification compared to 2018, but their rankings are now changed.

The circular lists cases that credit institutions are granted a reserve requirement waiver or a lower reserve requirement ratio.

Once completed listing on the Ho Chi Minh City Stock Exchange, Vietnam Rubber Group would be the second largest firm in terms of registered capital, behind BIDV.

By the end of 2020, all commercial banks are required to meet Basel II standards, a condition for local lenders to expand their respective credit growth limit and increase registered capital.

Under the prime minister’s plan on restructuring the stock market and the insurance market until 2020, with a vision towards 2025, all commercial banks are required to float shares before 2020.

Moody's rating actions on the 18 banks are driven purely by the sovereign rating action, and do not reflect a weakening of the banks' standalone financial profiles.

Vietnam is committed to opening the financial market to foreign investors, particularly in financial services.