Vietnam central bank to keep interest rate steady: deputy governor
The State Bank of Vietnam (SBV), the country’s central bank, will continue to keep policy interest rates unchanged at present and in the coming time, affirmed its deputy governor Dao Minh Tu.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam exchange rate pressures to ease gradually: economist
Vietnam will see exchange rate pressures ease gradually as the U.S. Federal Reserve (Fed) gets set to reduce interest rates and the gold market becomes more stable, said economist Can Van Luc.
Banking - 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
Not much value in reducing interest rates in Vietnam: ADB
The Asian Development Bank (ADB) does not see much value in reducing interest rates further in Vietnam, ADB country director for Vietnam Shantanu Chakraborty said at a press conference on Thursday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
No cronyism in lending, PM tells credit institutions
Credit institutions are strictly prohibited from granting preferential loans to their leaders, executives and related persons as well as “backyard” businesses, Prime Minister Pham Minh Chinh said Tuesday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam begins 2024 with 0.6% credit growth fall
Credit growth of Vietnam’s banking system dropped 0.6% in January over end-2023, according to the State Bank of Vietnam (SBV), the nation’s central bank.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam banks thirsty for medium- and long-term capital
Vietnamese banks are holding abundant short-term liquidity, but they still need medium- and long-term capital sources to boost credit growth.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam economy can grow 5.5% in 2024, exchange rate can reach VND24,050: Shinhan Bank
Vietnams’s economic growth can reach 5.5% in 2024, thanks to public spending and tourism recovery outweighing external challenges, Shinhan Bank S&T Center anticipated.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Credit growth limits still appropriate in current Vietnam context: lawyer
Applying credit growth limits is necessary in Vietnam as businesses and the economy still rely too much on bank credit, said lawyer Truong Thanh Duc, CEO of ANVI law firm.
Opinion - Mon, Dec 22, 2021 | 11:30 am GMT+7
Excessive money supply may put economy into recession: expert
Monetary policy is not a magic wand and excessive money supply does not necessarily promote growth. Instead it can cause high inflation or put the economy into a recession and liquidity trap when demand is weak, writes Assoc. Prof. Dr. Nguyen Huu Huan from the University of Economics Ho Chi Minh City.
Opinion - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam credit growth reaches 9.87% as of mid-December
Vietnam’s credit as of December 13 had increased 9.87% compared to the end of last year, but was still some way off the 2023 target of 14%, reported the State Bank of Vietnam (SBV).
Banking & Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Zero interest rate appears as banks scramble to offer affordable loans
Vietnamese banks are racing to offer loan packages with preferential interest rates from only 3%, and even interest-free for the first month.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s credit growth limit no longer appropriate: experts
The credit growth cap maintained by Vietnam’s central bank no longer suits the current situation because certain weaknesses have begun to appear, experts say.
Banking - 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
Central bank must ensure sufficient credit for economy: Vietnam PM
The State Bank of Vietnam (SBV) must ensure sufficient provision of credit for the economy and the safety of the credit institution system, while avoiding congestion in capital flows, said Prime Minister Pham Minh Chinh.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Shinhan Bank, Public Bank the only 2 foreign banks offering above 5% interest rates
South Korea-invested Shinhan Bank and Malaysia-invested Public Bank are the only two foreign commercial banks in Vietnam offering more than 5% interest for 12-month deposits, at 5.3% and 5.6% respectively.
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
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
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 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
Reduce interest rates further, promote credit growth: experts
With credit growth at its lowest level in the past 10 years, experts say reducing interest rates further will be key to increasing businesses’ access to capital.
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
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 banks cut six-month deposit rates to 7%
The six-month deposit interest rates at banks in Vietnam, barring some outliers, fell to a maximum of 7% starting Wednesday.
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
Property sector risks to Vietnam’s sovereign credit reduced: Fitch Ratings
Uncertainty has eased over the possible fallout for Vietnam’s sovereign credit from real estate sector stresses, Fitch Ratings said Tuesday.
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates below 7% at foreign banks in Vietnam
While Vietnamese commercial banks reduced their deposit interest rates to below 8% recently, the rates were already lower at foreign counterparts in the country at below 7%.
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
Vietnam's central bank asked to further cut interest rates
Deputy Prime Minister Le Minh Khai has requested the central bank to continue cutting interest rates to support growth in the country's slowing economy.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Accelerated public investment can boost Vietnam’s economic growth: WB
Further public investment disbursement can support Vietnam’s aggregate demand and economic growth in the short run, the World Bank said in its May edition of Vietnam Macro Monitoring.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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