Small commercial banks are witnessing tens of billions of dong withdrawn from the banks every day, since the day the State Bank forced banks to apply the ceiling deposit interest rate of 14 percent per annum. Therefore, they have to look for many other ways to attract deposits to ease their thirst for capital. Low [...]
The interbank average interest rate on October 28 increased in almost terms against previous day (October 27), of which, overnight term posted strongest rise by 1.51% from 10.79% per annum (p.a.) on October 27 to 12.3% p.a. on October 28, VietBiz24.com quoted data from the State Bank of Vietnam (SBV)’s website. The interest rate for [...]
Not only limiting new loans, many banks are also attempting to recover their due loans from real estate projects, local newswire VnExpress reported on November 1. In an interview with VnExpress, Nguyen Duc Huong, Vice President of LienViet Post Bank, said after the issuance of central bank Directive 01 on tightening credit control, his bank [...]
The State Bank of Vietnam (SBV) on October 31 issued a decision assigning Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) to serve Phuoc Hoa irrigation project (additional loan-phase 2) worth $60 million funded by Asian Development Bank (ADB). SBV’s governor entrusted VietinBank’s general director to be responsible for implementation of regulations to [...]
Many banks have reported hefty profits in the third quarter and January-September period, but they are also seeing their actual sums sharply contracted due to big provisions set aside for risks now that bad debts are also rising. Several banks that have listed shares on the stock market said they earned trillions of Vietnam dong [...]
In case the State Bank of Vietnam managed to keep the dollar exchange rates stable within 1% band, it is anticipated that the USD/VND rates are to be adjusted at the beginning of 2012. In case the State Bank of Vietnam managed to keep the dollar exchange rates stable within 1% band, it is anticipated [...]
Total transaction volume in the interbank market in Oct 31 exceeded VND87.5 trillion, 3.5 times as large as that on Oct 28, the central bank’s data showed. Demand for 1-week interbank loans surged unexpectedly as the total transaction volume for the term on Oct 31 surpassed VND68 trillion, 6.3 times as large as that for [...]
The State Bank of Vietnam said on its website on Nov 2 that it would perform inspection on foreign currency trading activities at some credit institutions as the agency was reported some violations of the new decree. Vietnam’s government issued Decree No.95/2011/ND-CP dated Oct 20, setting higher fines and adding new punishment for those banks [...]
Vietnam’s central bank kept the exchange rate unchanged at VND20.803 a dollar for five consecutive days today, after weakening the dong for 14 times in October. The SBV has weakened the dong by VND175 or 0.85% in the past 14 times in October, getting closer to the SBV’s target to limit the exchange rate rise [...]
Vietnam Minister of Finance, Vuong Dinh Hue, is going to present the NA draft law on pricing tomorrow afternoon, November 3. On the same day, Phung Quoc Hien, member of NA Standing Committee cum NA chairman of Finance and Budget Committee will present evaluation report on the draft law. NA deputies will have panel discussion [...]
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