Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank or CTG) organized a ceremony to open a branch in the Lao People’s Democratic Republic, which is the bank’s first branch in ASEAN region. The branch officially began its operation on Feb 3, 2012 and has its head office located at No. 029 KhounBoulom Street [...]
Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged since Dec 26, 2011. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036. Many commercial banks continued changing the dollar [...]
The deposits made at commercial banks have reportedly increased after Tet. However, due to the tightened monetary credit, banks still keep cautious when lending and refuse a lot of loans. Banks refuse to provide loans Hanh, who lives in Tay Ho district, has complained that she cannot borrow money from banks to complete the construction [...]
Some commercial banks which are holding big amounts of gold, have proposed to allow them to export gold in order to improve the liquidity. Among the heavy tasks the State Bank of Vietnam has to fulfill this year, improving the liquidity has been highlighted as the priority. “It’s necessary to ease the interest rates, or [...]
Vietnam’s central bank on Friday cut the compulsory reserves level for banks with large agriculture lending to one-fifth the regular rate from February through July. The reserve requirement adjustment was likely aimed at curbing soaring food inflation and, while unlikely to have a major impact on the economy overall, could help raise living standards in [...]
Data from some banks’ financial report in the fourth quarter (Q4) of 2011 has revealed the huge income of employees working in the banking sector. The income at Vietcombank, particularly, averaged at 22.4 million dong per month, leading in the industry last year. Such a high average income is attached with Vietcombank’s pre-tax profit of [...]
The post-Tet period has seen deposits at commercial banks picking up. Yet, tightened credit policies have made lending institutions cautious in loaning. So where has money gone? Despite mortgage and legitimate red book, loan application of a customer, Hanh who needed funds to finish the newly-built villa in Tay Ho District (Hanoi) was rejected by [...]
Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) has recently announced its business performance for the fourth quarter of 2011 whereby there were significant differences in the revenue structure of Vietcombank in comparison with other lenders. Particularly, Vietcombank’s main revenue was still net interest income with over 3.8 trillion dong in Q4 2011, up [...]
The State Bank of Vietnam (SBV) may announce credit growth limits for each credit institution in March, the local online newspaper Saigon Dau Tu reported, citing its private sources at commercial banks. In the mean time, many commercial banks were said to start focusing funds on 3 main areas: exports, agriculture production – rural development, [...]
Vietnam’s bond market could see a big shake up this year thanks to the maturing of a huge volume of paper and a regulator-driven project to restructure the market. But , industry experts are undecided on the implications. Here we get the lowdown from the insiders. A difficult economic situation still means opportunities Trinh Hoai [...]
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