USD rate passes VND25,000 milestone at top Vietnam lender Vietcombank
Vietcombank, the largest Vietnamese lender by market capitalization and foreign exchange transactions, increased its USD buying and selling rates to VND24,790 and VND25,130 Wednesday afternoon.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposits at banks in Vietnam net rise by record $70 bln in 2023 despite falling rates
Deposits at banks in Vietnam net increased by a record high of nearly VND1,700 trillion (roughly $70 billion) in 2023 although interest rates continuously dropped during the year, according to the central bank.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam government wants further lending interest rate cuts
The Vietnamese government has directed the State Bank of Vietnam (SBV) to continue to operate proactive, flexible and effective monetary policies, while encouraging credit institutions to reduce costs, simplify lending procedures and reduce lending interest rates to support economic growth.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank tightens rules on gold bullion production
The State Bank of Vietnam (SBV), the country’s central bank, has issued a decision to update a sister rule issued in 2012, in a move to tighten the production of gold bullion amid recent volatility in the local market.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam plans $82 bln credit injection in 2024
Credit institutions in Vietnam are expected to pump around VND2,000 trillion ($82 billion) into the economy this year, or a 15% credit expansion, the central bank estimates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Fitch upgrades Vietnam rating to 'BB+'; outlook stable
Fitch Ratings has upgraded Vietnam's Long-Term Foreign-Currency Issuer Default Rating (IDR) to “BB+”, from “BB”, with stable outlook.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Banks should continue reducing interest rates: central bank governor
Banks should continue cutting costs in order to reduce interest rates, Governor Nguyen Thi Hong of the State Bank of Vietnam said at the government’s Thursday meeting on boosting credit growth for the economy.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese currency VND may have bottomed: UOB
Like other Asian peers, it appears that the bulk of the recent Vietnamese dong (VND) selloff is over, researchers at Singapore-based United Overseas Bank (UOB) said in a note.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank likely to keep policy rate steady through 2024: HSBC
The State Bank of Vietnam (SBV), the country's central bank, is expected to keep its policy rate steady at 4.5% through 2024 despite risks from rising food and energy prices, HSBC said in a note.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Positive outlook for Vietnamese banks, GDP growth over 6% in 2024: Fitch
Vietnamese banks are set to enjoy a favorable business environment over the next few years in tandem with a strengthening economy, a Fitch Ratings report says.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank expands credit growth quotas to stimulate lending
The State Bank of Vietnam (SBV) is increasing credit growth quotas for banking institutions on a case-by-case basis in a move to stimulate lending.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Report transactions of $16,520 or more to central bank: PM decision
Transactions of VND400 million ($16,520) or more have to be reported to the central bank starting next month, according to a decision issued by the Prime Minister.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank reduces exchange rate to three-month low
The State Bank of Vietnam (SBV) decreased the central exchange rate to VND23,954 per U.S. dollar Monday and further to VND23,915 Tuesday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Difficult to find investors for restructuring weak banks: Vietnam central bank
Placing five banks under special control was "unprecedented" and it will not be easy to find investors to help restructure them in the post-pandemic context, said the State Bank of Vietnam governor.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Commercial banks to continue loan rate cuts: central bank
Vietnamese banks have reduced loan interest rates by 1.5-2 percentage points from end-2022, exceeding the initially-expected decrease of 1.5 percentage points, and the trend is likely to continue.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Further interest rate cuts may disrupt Vietnam’s foreign exchange: IMF
The State Bank of Vietnam adopted easing monetary policy with interest rate cuts in early 2023 to stay ahead of challenges, but further interest cuts may disrupt the country’s foreign exchange dynamics, the International Monetary Fund (IMF) said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank effectively manages interest rates: ADB
The State Bank of Vietnam (SBV) has been effectively managing interest rates after cutting them four times this year, going against the global trend of rate hikes, according to the Asian Development Bank (ADB).
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks raise greenback prices to year-long high
Commercial banks in Vietnam increased their dollar prices to the highest level so far this year, but this was still lower than last year’s highs.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank 'wise' to use T-bills to stabilize exchange rate
The State Bank of Vietnam’s (SBV) intervention to stabilize the exchange rate via treasury bills (T-bills) is a careful calculation and a wise solution, according to MayBank Securities.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam real estate doldrums may last till Q3/2024: economist
The stagnation of the Vietnamese real estate market is expected to endure till Q2 or Q3 next year given a supply and demand mismatch, said economist Le Xuan Nghia at an event in Hanoi on Friday.
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank issues $411 mln of treasury bills
The State Bank of Vietnam (SBV) said on Thursday it had issued nearly VND10 trillion ($411 million) of treasury bills via auction with the winning interest rate of 0.69% per year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
ADB revises down Vietnam’s GDP growth forecast to 5.8% in 2023, 6% in 2024
The Asian Development Bank (ADB) has revised down Vietnam’s economic growth forecast to 5.8% in 2023 and 6% in 2024 in its September edition of the Asian Development Outlook (ADO).
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank unlikely to further loosen monetary policy: WB
The slow credit growth and close monitoring of the inflation amid higher global energy prices may prevent the State Bank of Vietnam from loosening the monetary policy further, the World Bank said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central exchange rate hits all-time high of VND24,036
The State Bank of Vietnam (SBV) increased the central exchange rate to VND24,036 per U.S. dollar on Friday, another record high.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central exchange rate tops VND24,000, an all-time high
The State Bank of Vietnam (SBV) increased the central exchange rate to VND24,005 per U.S. dollar on Monday, a record high.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks may cut loan interest by 2.5 percentage points in H2
Commercial banks have pledged to cut the loan interest rates by 0.2-2.5 percentage points in the second half of the year, says Vietnam's central bank.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
USD price hits another year-peak in Vietnam
The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,963 per U.S. dollar on Tuesday, pushing the rate to a new record high in the year to date.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam hooks up to Asean payment connectivity
The State Bank of Vietnam (SBV) on Friday joined the Regional Payment Connectivity (RPC) initiative, which seeks to strengthen collaboration on the development of faster, cheaper, more transparent, and more inclusive cross-border payments in Southeast Asia and beyond.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central bank halts controversial terms restricting loans
The State Bank of Vietnam (SBV) has indefinitely withdrawn three terms from Circular 06/2023 which were deemed controversial because they further restricted access to loans.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Greenback cools with new central bank reference rate
The State Bank of Vietnam (SBV) cut the central exchange rate to VND23,946 per U.S. dollar Friday, soon after the dollar rose to VND23,951, the highest so far this year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank requests more lending rate cuts
The State Bank of Vietnam (SBV) has asked banks in the country, both domestic and foreign, to further lower lending rates by expected 1.5-2 percentage points per annum to better support the country’s economic growth.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank raises USD price to year-high VND23,881
The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,881 per U.S. dollar on Tuesday, pushing the rate to its highest level so far this year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank raises USD price to VND23,825, close to year-high
The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,825 per U.S. dollar on Friday, bringing the rate close to the highest level this year at VND23,833 on July 7-8.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank eyes more interest rate cuts: deputy governor
Deputy Governor Dao Minh Tu said Tuesday that with suitable conditions, the State Bank of Vietnam may continue cutting the interest rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank revises down credit growth target to 14%
The State Bank of Vietnam (SBV) on Monday adjusted down the country's 2023 credit growth target for credit institutions to about 14% from the 14-15% set at the beginning of the year.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
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