Indonesian central bank raises interest rates to highest level in 7 years
Bank Indonesia (BI) on Wednesday raised interest rates to their highest level in seven years.
Southeast Asia - Mon, Dec 22, 2021 | 11:30 am GMT+7
Gov't should launch alternative to unviable $4.7 bln social housing credit package: expert
The Vietnamese government ought to launch a comprehensive housing financial strategy as an alternative to the social housing-focused $120 trillion ($4.72 billion) credit package, which has been disbursed at a snail's pace, said Le Xuan Nghia, a member of the National Financial and Monetary Policy Advisory Council.
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
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
Vietnam central bank stands ready to cool overdone dong depreciation
The State Bank of Vietnam (SBV) is aware of the importance of keeping the USD/VND exchange rate steady and stands ready to put a brake on the dong devaluation run when necessary, said an official.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank slows down cash withdrawal as exchange rate remains stable
The State Bank of Vietnam (SBV), the country’s central bank, has reduced the volume of T-bills put up for auction as the USD/VND exchange rate stays stable.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam PM orders lower lending rates, wider credit access
Vietnamese Prime Minister Pham Minh Chinh has asked the central bank and commercial lenders to further lower lending interest rates and facilitate greater credit access.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam faces capital redundancy amidst complex global situation: Agribank chairman
The international situation remains complicated in 2024, negatively impacting business activities of Vietnamese enterprises, especially banks, said chairman of wholly state-owned Agribank Pham Duc An.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam lending rates fall faster than deposit rates
Average lending interest rates in Vietnam tended to fall faster than those on deposits, with respective drops of 0.25% and 0.15% as of January 31 compared to the end of 2023.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Securities companies up bank borrowings with low interest rates
With lower interest rates, many securities companies in Vietnam have increased bank loans to finance margin lending and investment activities.
Finance - 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
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 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
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 bank deposits hit record high of $522 bln at end-September amid lowering rates
Client deposits at credit institutions in Vietnam reached a record high of VND12,680 trillion (circa $522 billion) as of end-September, rising 7.28% from end-2022, data from the central bank showed.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam credit growth slow despite rates back to pre-pandemic levels
Lending interest rates have returned to pre-pandemic levels, but Vietnam’s credit has still expanded slowly at only 7.1% so far this year, said State Bank of Vietnam (SBV) Governor Nguyen Thi Hong.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank has limited room for further monetary loosening: Dragon Capital
The Vietnamese central bank has limited room to further loosen monetary policy given adverse external factors and a pickup of inflation at home, leading fund manager Dragon Capital said in a recent note.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Banks race to reduce lending rates to facilitate debt repayments
Big commercial banks have launched new loan packages with low interest rates of only 5.6-8% per year to help customers repay their debts at other banks.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s 8-month credit growth reaches only 5.33%
Vietnam’s credit reached about VND12,560 trillion ($522.14 billion) in the year to August 29, up only 5.33% from the end of last year, said standing Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu on Thursday.
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
Huge room remains for interest rate cuts: economist
Vietnam has ample room to make further interest rates cuts in the coming time as lending rates remain high while cash flowing into the economy is limited, said economist Le Xuan Nghia.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam monetary policy to persist with interest rate reduction
The State Bank of Vietnam (SBV) will continue with its interest rate reduction policy despite the possibility of other rate hikes by the U.S. Federal Reserve.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s five-month credit growth hits only 3.17%
Credit in the Vietnamese economy reached over VND12,300 trillion ($523.8 billion) in the first five months of this year, an increase of only 3.17% from the end of 2022, according to the State Bank of Vietnam (SBV).
Banking & Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s credit institutions expect improved business results in 2023
With the central bank’s move to reduce some policy interest rates and ease pressure on the monetary policy, Vietnamese credit institutions have showed more optimism about their business results in the second quarter and the entire 2023.
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
Banks follow SBV lead by cooling deposit interest rates
The State Bank of Vietnam in mid March cut several policy interest rates for the first time in two years, and many domestic banks have followed suit, but not to the extent of foreign banks.
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
Vietnam interest rates likely to decline by year-end
Interest rates in Vietnam are expected to decrease in late 2023 as the U.S. dollar price would fall and Vietnam's monetary policy moves towards supporting growth, according to Bao Viet Securities JSC.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deposit interest rates drop below 9.5% per central bank prompt
Vietnamese commercial banks have reduced their deposit interest rates en masse below 9.5% per year after the State Bank of Vietnam (SBV) said it would restrain credit institutions and branches of foreign banks with hiked interest rates.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central bank to restrain credit institutions with hiked interest rates
The State Bank of Vietnam (SBV) will monitor and deal with credit institutions and branches of foreign banks with hiked interest rates, in a move to reduce capital costs for enterprises and meet credit demand in the economy.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese banks thirst for money
Not only businesses but banks themselves are also thirsty for money, reflected by their continuous interest rate hikes to attract deposits.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
Doing nothing better than doing business: entrepreneur
Struggling with difficulties in accessing bank loans, rising interest rates and other problems, Phan Phuoc Loc, director of Dai Phuoc Long Cement JSC, says “doing nothing is now better than doing business.”
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Fed interest rate hike has little impact on VND
The Vietnamese dong remained unaffected while most emerging-market currencies declined against the U.S. dollar following the U.S. Federal Reserve’s interest rate hike.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Central bank may raise basic interest rates in late 2022: Maybank Kim Eng
The State Bank of Vietnam may lift its interest rates by 50 basis points in late 2022 to maintain the country’s moderate growth, given rising inflation risks and the U.S. Federal Reserve’s aggressive rate moves, according to Maybank Kim Eng Securities.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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