The dong deposit rate will be lowered to below 14% per year and the lending interest rate is expected to reduce to below 18% per year by the end of this year, Nguyen Hung, general director of Vietnam Prosperity Commercial Joint Stock Bank (VPBank) quoted the State Bank of Vietnam (SBV)’s governor as saying at [...]
Some commercial banks in HCM City today September 6 said that the lending interest rate on the interbank market suddenly increased to 17.5% per annum (p.a.) for 1-week term and it was 19% p.a. for 1-month term and 21% p.a. for 3-month term, Saigon dau tu tai chinh newspaper reported. By the end of last [...]
The State Bank of Vietnam (SBV) should raise the compulsory reserve ratio (CRR) in dong to about 10% to quickly lower the deposit interest rate, Le Duc Thuy, former chairman of National Financial Supervisory Committee proposed. Accordingly, the central bank will use this extra capital to support banks facing shortages of liquidity and lenders who [...]
After the fall of 0.25% in July, the deposit balance at credit institutions in August was estimated to increase 3.04% from July. According to the report on banking operations in August released by the State Bank of Vietnam (SBV) recently, the deposit balance in dong as of August 19 increased 3.32% while the deposit balance [...]
The State Bank of Vietnam (SBV)’s governor, Nguyen Van Binh, on September 6 issued a decision assigning Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) to serve World Bank (WB)-financed “Hospital waste treatment project”. Accordingly, Vietinbank is assigned to serve the project with the value of 96.1 million SDR (Special Drawing Rights), equivalent [...]
Vietnam’s central bank has been selling U.S. dollars to banks in recent weeks to support the weak dong, which has come under pressure since early August following months of stability, market sources said. The State Bank of Vietnam (SBV) has sold an estimated $1.5 billion to five or six large state-run and partly-private banks since [...]
Subscribe via Email 
Subscribe in a Reader 
Follow us on Twitter 
Connect on Facebook
China Business News