Vu Viet Ngoan, Head of National Financial Supervisory Commission forecast that the Vietnamese dong (VND) might weaken by 4-5% of its value against the US dollar in 2012. The forecast was given at the conference themed “Vietnam Economic Prospect 2012: Opportunity and Challenge” held on Monday. According to Ngoan, the price of Vietnamese dong against [...]
Vietnam’s bonds gained, pushing yields to a three-week low, on speculation large banks have surplus funds to purchase government debt. The dong was steady. The central bank continued to increase liquidity in the banking system by injecting a net 10.3 trillion dong ($490 million) into the market via open-market operations since the beginning of the [...]
On January 9, 2012, the State Bank of Vietnam (SBV), the country’s central bank pumped 15 trillion dong on open market operations (OMO) with two terms of 7-days and 21-days and the interest rate was still at 14% per annum (p.a.). Particularly, according to the data from Reuters, on January 9, 2012, the central bank [...]
Along with the State Bank of Vietnam’s determination to reduce number of ailing banks, 2012 is expected to see a boom in merger and acquisition deals in the banking sector. After being merged, the united bank SCB welcomed the New Year with a huge promotion program and raised the gold deposit rate. The action showed [...]
In 2012, in all likelihood the interest rates will fall to about 15-17% per year, the local newspaper Lao Dong cited Pham Hong Hai, Monetary and Capital Market Director of HSBC Vietnam as saying. According to Hai, the faster or slower decline in interest rates will depend on the health of the entire economy. If [...]
There is a phenomenon of deposit interest rate hurdles as some banks have offered the saving deposit rate of 19-20% a year during the end of 2011 [Lunar Calendar], said Dr. Le Xuan Nghia Deputy chairman of the National Financial Supervision Commission. At a seminar held on January 9 by the NFSC, Dr. Le Xuan [...]
As reported by Hanoi-based banks, in 2011, the fundraising activities of Hanoi-based credit institutions encountered many difficulties, from May to September, the capital sources continuously decreased, but from early fourth quarter of 2011 till so far, the capital sources have tended to increase compared with the end of 2010. As estimated, as of December 31, [...]
The State Bank of Vietnam (SBV)’s governor on January 9, 2012 issued a document allowing Orient Commercial Joint Stock Bank (OCB) to scale up its chartered capital from three trillion dong to 3.384 trillion dong under the plan approved by the bank’s shareholders’ meeting on November 12, 2011. Accordingly, the lender will offer 38.4 million [...]
Ocean Commercial JS Bank reached total pretax profit of 640 billion dong in 2011, fulfilling 80% of the year’s plan, the Chairman Ha Van Tham told Dau Tu Chung Khoan (Securities Investment) newspaper. Its total outstanding loans achieved 19.2 trillion dong, up 10% on year, total assets at over 62 trillion dong, +12%. Current charter [...]
The State Securities Commission of Vietnam (SSC)’s chair on January 9, 2012 granted License No. 03/UBCK-GCN for Bao Viet Commercial Joint Stock Bank to offer shares to the public. Accordingly, the lender is allowed to issue 165 million shares at the face value of 10,000 dong per share to the existing shareholders. The total share [...]
Subscribe via Email 
Subscribe in a Reader 
Follow us on Twitter 
Connect on Facebook
Gold price Silver prices