The lending interest rates offered by commercial banks are still high and unlikely to go down until early next year despite the central bank’s effort to drag it down by enforcing the deposit rate cap at 14% since September 7, according to Saigon Times Daily. Saigon Times Daily quoted a company director as saying that [...]
Despite banks having announced lending interest rates of 17-19% per year, many are still trying to exceed the cap to gain extra profits. Despite banks having announced lending interest rates of 17-19% per year, many are still trying to exceed the cap to gain extra profits. Tricks to surpass interest rate caps An anonymous official [...]
Enterprises’ enthusiasm to enjoy a lower borrowing cost is poured cold water as it turns out that promises from bankers are just the lip service, since very few clients can access the lending rate of 17%-19% a year. Most enterprises contacted by the Daily said they had to shy away from the offered rate of [...]
After a meeting with the State Bank of Vietnam (SBV), several commercial banks have agreed to reduce their lending interest rates to between 17% and 19% beginning in September. Twelve Vietnamese banks reached an agreement on August 26 with the SBV on the interest rate for loans. SBV promised to be more flexible with their [...]
Several commercial banks have cut loan interest rates by 1.5-2 percentage points to 17-19 percent a year, following their agreement on interest rate cut made late last month in pursuant to the State Bank of Vietnam’s instruction. Bank for Investment and Development of Vietnam (BIDV) on September 5 cut interest rates on short-term loans to [...]
The State Bank of Vietnam has said big commercial banks have agreed to cut lending interest rates to 12 to 12.5 per cent per annum starting next month, newswire Vneconomy reported. The agreement was reached in a recent meeting between the central bank’s governor Nguyen Van Giau, representatives of the Vietnam Banking Association (VNBA) and [...]
Till May 23, total credit provided to the economy has accumulated 135.8 trillion dong or 6.2 percent against the same period of 2010, 1.2 times higher than the country’s GDP growth. The State Bank of Vietnam’s Governor Nguyen Van Giau had a talk with the local newswire VnExpress about the lending interest rate on May [...]
Businesses are facing a million-dollar question these days: whether to continue to borrow from banks since interest rates have gone through the roof. A garment businessman in HCM City says he went to several banks this month for a loan and the lowest rate offered was 23 per cent. At these rates, even if he [...]
Individuals accessing unsecured loan for the first time are charged 5.35% interest rate a month or 64% p.a. Financial institutions in Ho Chi Minh City are charging secured loan customers with 3.02% a month or 36.24% p.a flat interest rate, 4.99% a month or nearly 60% p.a for stair case interest rate. Individuals accessing unsecured [...]
In the current context of the national economy and with an aim to promote credit growth to 25 percent this year, banks have no choice, but to reduce lending interest rates further, said banking specialists. According to the State Bank of Vietnam, by the end July, total mobilised capital grew 16.3 percent, while total outstanding [...]
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