Total outstanding loans to securities investment and trading dropped 43.03pct while those to real estate investment declined 10.1pct. The first eight months of the year have seen the State Bank of Vietnam’s drastic efforts to apply austerity monetary policies for inflation monitoring and macroeconomic stabilisation. Total payment instruments and credit have experienced tardy growth over [...]
Sep 9 2011 | Posted in
Banking-Finance |
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Vietnam’s central bank will likely pump 300 trillion dong ($14.4 billion) into the economy from now until the end of the year and allow commercial banks to lend around 238 trillion dong, according to a state-run newspaper on Thursday that quoted the central bank. The figures point towards an increased money supply and credit, but [...]
Sep 9 2011 | Posted in
Banking-Finance |
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Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent Singapore’s United Overseas Bank said on Wednesday it has increased its stake in Vietnam’s Southern Commercial Joint Stock Bank to around 19.99 percent through the subscription and market purchase of an additional [...]
Sep 8 2011 | Posted in
Banking-Finance |
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Banks may suffer 3-month loss if lending interest rate is at 17-19pct/yr while remaining the current deposit rate, Nguyen Hung, general director of Vietnam Prosperity Commercial Joint Stock Bank (VPBank) said. However, he said that if the actual deposit interest rate decreases to below 14 percent per year, bank will not suffer losses. Hung said [...]
Sep 8 2011 | Posted in
Banking-Finance |
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Starting from September 5, 2011, Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank) has cooperated with VNDirect Securities Joint Stock Co for expanding the payment services via VCB-iB@nking channel that allows customers to deposit money in the bank accounts and trade stocks in their depository accounts at VNDirect at the same time. With the [...]
Sep 8 2011 | Posted in
Banking-Finance |
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Barely any commercial bank is confident of hitting the profit target. Some even are considering readjusting the goal for the year. “Assuming more favourable economic climate, our desired pre-tax profit of 550 billion dong (an 82.11 percent year-on-year increase) would be within the reach thanks to our current chartered capital of 3 trillion dong which [...]
Sep 8 2011 | Posted in
Banking-Finance |
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