Vietnam deposit interest rates pick up after year in hibernation
Banks in Vietnam have been raising deposit interest rates since the end of March, and experts believe that rates will continue to climb for the rest of the year, given improved economic performance and stabilized inflation.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Cash to flow into stocks, real estate on back of gold rally, low interest rates
While gold prices have been climbing sharply, deposit interest rates remain low, and the stock market has experienced recent corrections, so where should people put their money to make a profit? The Investor spoke with Pham Manh Hung, vice head of the Research Institute for Banking, under the Banking Academy of Vietnam, about this issue.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
HSBC Vietnam records $208 mln post-tax profit in 2023, up 40%
HSBC Bank (Vietnam) Ltd., under London-headquartered lender HSBC, recorded a post-tax profit of VND5,189.1 billion ($207.5 million) in 2023, up 40.2% year-on-year, according to the bank’s financial statements.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's Big 4 banks cut deposit interest rates to below 2%
Deposit interest rates at four state-controlled banks in Vietnam, namely Vietcombank, Agribank, BIDV and VietinBank, have dropped to below 2% for some terms as the banking sector continues to cut interest rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Securities companies disallowed to accept deposits from investors
The State Securities Commission (SSC), Vietnam's stock market watchdog, has instructed securities companies to stop mobilizing capital from investors and settle all outstanding transactions before June 30, 2024.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
VietnamCapital Finance leaders arrested for illegal mobilization of $8.22 mln in deposits
The chairman and general director of VietnamCapital Finance JSC have been detained by Danang police pending further investigation into their illegal mobilization of VND200 billion ($8.22 million) in deposits.
Society - Mon, Dec 22, 2021 | 11:30 am GMT+7
Five Vietnam banks reduce 12-month deposit interest rates to below 5.5%
Private lenders ABBank, Techcombank, GPBank and SeABank and state-controlled Vietcombank have become the first five Vietnamese banks to cut their 12-month deposit interest rates to below 5.5%.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks cut 12-month deposit rates to below 6%
The 12-month deposit interest rates at major banks in Vietnam, domestic and foreign, have fallen below 6% this month.
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
Deposit interest rates below 8% at all Vietnam banks
Interest rates on 12-month deposits have fallen below 8% at all commercial banks in Vietnam following Prime Minister Pham Minh Chinh’s call for lower rates on loans.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Two banks buck trend with deposit interest rates of 8% plus
GPBank and Saigonbank are the only banks in Vietnam offering annual interest rates of 8% or more for term deposits, bucking the sector’s trend of cutting interest rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates fall below 8.5%
Commercial banks have reduced their interest rates to below 8.5% for 12-month terms, except for one bank, indicating the sector is in a race to slash rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Commercial banks cut deposit interest rates to below 8.5%
Commercial banks in Vietnam have reduced their deposit interest rates again to below 8.5% for terms of 12 months or less in line with requests from the Prime Minister and the central bank.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates lowered following Vietnam central bank’s cut
Commercial banks in Vietnam have cut their deposit interest rates by 0.3-0.7 percentage points in line with the State Bank's lowered rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese banks reduce interest rates below 8.8%
Domestic banks in Vietnam have reduced their deposit interest rates to below 8.8% for all terms of 12 months or less in line with the central bank’s instructions.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates at foreign banks slightly reduced
Amid the deposit interest rate reduction among Vietnamese banks, the rates at foreign banks in Vietnam have slightly decreased in line with the trend.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
CIMB Bank Vietnam reports $9.3 mln post-tax loss in 2022
CIMB Bank Vietnam, part of Malaysia-headquartered CIMB bank, recorded a post-tax loss of VND271.78 billion ($9.27 million) last year, worse than the VND209.93 billion ($8.93 million) in 2021, according to the bank’s financial statements.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
HSBC Vietnam records $157 mln post-tax profit in 2022
HSBC Bank (Vietnam) Ltd. posted a post-tax profit of VND3.7 trillion ($157 million) in 2022, tripling year-on-year, according to the bank’s financial statements.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
TPBank targets 11% increase in pre-tax profit
Vietnamese private lender TPBank has set a pre-tax profit target of VND8.7 trillion ($370.37 million) in 2023, a year-on-year increase of 11%.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Domestic banks reduce one-year deposit interest rates to below 9%
Vietnam's domestic banks have all reduced their deposit interest rates for one-year terms to below 9%, with state-controlled commercial banks Agribank, VietinBank, BIDV, and Vietcombank, also known as the “Big 4”, setting the lowest rates of 7.2%.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
SBV may consider another policy interest rate cut
The State Bank of Vietnam (SBV) may consider another policy interest rate cut as central banks of other countries, especially the U.S. Federal Reserve, tend to ease monetary tightening and domestic inflation is kept under control.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam interest rates to cool down in 2023
Interest rates in the Vietnamese banking system are forecast to decrease in 2023 when macro conditions improve.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Banks to cut loan interest rates to improve liquidity
Sixteen banks in Vietnam have committed to reducing their loan interest rates by 0.5-3.5 percentage points to below 9.5% per annum to help improve the Vietnamese banking system's liquidity.
Banking & Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Liquidity problems behind high bank interest rates: experts
Commercial banks in Vietnam have increased deposit interest rates to 9-10% per annum amid inflationary pressure due to market liquidity problems, experts said.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates surge, approach 9% a year
After breaking the 8% threshold two weeks ago, deposit interest rates in many banks have exceeded 8.5% and are approaching 9%.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
'Big 4' banks increase deposit rate
Biggest Vietnamese lenders Vietcombank, VietinBank, and Agribank have hiked their deposit interest rates by over one percentage point, after the central bank raised the deposit rate ceiling last week.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Regulator protects car buyers from price traps
The Department of Competition and Consumer Protection has asked automakers and distributors in the Vietnamese market to fix sales prices prior to the payment of deposits.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Swiss agritech firm Syngenta joins HSBC’s green capital mobilization
Science-based agtech company Syngenta Vietnam has placed its first green deposit into HSBC Vietnam.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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