The annual Banking Viet Nam conference opened in Ha Noi yesterday with a focus this year on boosting electronic payment systems in Viet Nam and other ways to revolutionise banking technology. “The major aim of this conference is to put a stress on strategic issues relating to technology development in the banking system through 2020,” [...]
Most businesses complain that lending interest rates have been inflated to unaffordable levels. 18 percent? Same old story Many commercial banks are now lending at 18 percent per annum, the new interest rate set after the State Bank of Vietnam (SBV) removed the cap on the lending interest rate. Nguyen Thanh Tan, director of a [...]
Vietnamese dong lending rates picked up in the past week on short-term corporate demand as the supply of funds is limited by a cap on deposit rates, bankers said Monday. Overnight dong lending rates were 7.4 percent on Monday, up from 7.25 percent a week ago. One-week rates rose to 8.26 percent from 8.25 percent [...]
Agribank Insurance Joint Stock Company (ABIC) has announced the results of its pilot insurance programme for borrowers. Three months after the bancasurance scheme was implemented, 23 ABIC branches have earned total revenue of 6.7 billion dong (US$3.5million).
Commercial banks are clamouring for an end to the voluntary cap on deposit interest rates. Banks were trying to wiggle around the 10.5-per-cent cap on deposit interest by unlawfully adding various promotions that had brought effective interest rates to as high as 13 per cent per year, said Asia Commercial Bank deputy director Nguyen Thanh [...]
The State Bank of Vietnam (SBV) has announced that it will inspect credit institutions that have a proportion of capital mobilized from the interbank market higher than 20 percent compared to capital mobilized from the public. SBV Governor Nguyen Van Giau has ordered inspections of the credit institutions with high proportions of borrowing on the [...]
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