Mekong Housing Joint Stock Commercial Bank (MHB) is currently seeking for a refinancing loan worth VND3 trillion from the State Bank of Vietnam (SBV), the local online newspaper VnEconomy.vn reported. According to MHB, this refinancing loan will be used to invest in infrastructure plans in rural areas and social housing projects. The central bank has [...]
Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged for more than 3 months. The central bank has kept the U.S dollar exchange rate stable for the longest period since early 2011. This is also the highest dollar middle point rate set by the central bank over the last 3 [...]
Nam Viet Commercial Joint Stock Bank (Navibank-NVB) has announced its business performance for January 2012 with 21.96 billion dong pre tax profit, or 7.3 percent of its estimated plan. Till the end of January, the bank’s total deposits from individuals and institutions reached 16.277 trillion dong, rising 7.9 percent from the end of 2011 and [...]
The State Bank of Vietnam (SBV)’s governor on February 22 and 23 issued Decisions No 333 and 336/QD-NHNN approving the closure of representative office of First Commercial Bank in Hanoi and National Bank of Kuwait Sak in HCM City basing on proposals of these banks. These newly-issued decisions took effect as from the signing date.
Asia Commercial Joint Stock Bank (ACB) has said that since February 20, 2012, ACB has launched its special credit programme “Tich luy tu luong, xay dung to am” or “progressiveness from wages for home loans” for loans to purchase or repair houses. With this programme, the capital borrowers for the aforementioned purposes will enjoy lower [...]
As per the regulation of the State Bank of Vietnam (SBV), Bao Viet Commercial Joint Stock Bank (Bao Viet Bank) will have credit growth limit at 15 percent this year. According to the local newspaper Dau Tu Chung Khoan on February 24, in week, some banks have announced receiving document from the central bank related [...]
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has recently received a long term loan from Norfund (Norwegian Investment Fund for Developing Countries) worth $15 million to supplement its capital sources to lend small and medium sized enterprises (SMEs) in Vietnam. Norfund is an investment company intended to develop and establish profitable and sustainable enterprises [...]
This year has proved to be the hardest ever for several local credit institutions that have been classified as weak by the State Bank of Vietnam, since they have been denied credit growth, and are under special supervision from SBV. Late last year, the central bank categorized the credit institutions into four groups, including those [...]
Tien Phong Commercial Joint Stock Bank (TienPhong Bank) has said that as from February 27 the bank is to start its preferential credit package worth one trillion dong to lend at the interest rate of 15-18 percent per year. This prioritised credit package is designed for borrowers to invest in production of machines, technological products, [...]
With the confidence of satisfactory business results in 2011, many foreign credit institutions in Viet Nam have proposed that the State Bank of Viet Nam to loosen the credit growth policy for them, suggesting a rate of least 17 per cent, equal to those of domestic banks. Market shares held by foreign credit institutions including [...]
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