USD rate passes VND25,000 milestone at top Vietnam lender Vietcombank

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

Vietnam central bank slows down cash withdrawal as exchange rate remains stable

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 banks enter new phase of deposit rate cuts

Vietnam banks enter new phase of deposit rate cuts

Vietnamese commercial banks, led by state-controlled majors, have begun a new round of lowering deposit interest rates amidst tepid credit growth.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nam A Bank becomes 18th lender listed on Vietnam’s main bourse

Nam A Bank becomes 18th lender listed on Vietnam’s main bourse

Nam A Commercial Joint Stock Bank (Nam A Bank) on Friday debuted 1.06 billion shares on the Ho Chi Minh Stock Exchange (HoSE), becoming the 18th bank to be traded on Vietnam’s main bourse.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam dong seen weakening 1.5% vs. US dollar in 2024: broker

Vietnam dong seen weakening 1.5% vs. US dollar in 2024: broker

Vietnam's local currency the dong is likely to devalue 1.5% against the U.S. dollar this year to VND24,600 as upward pressures persist, KB Securities Vietnam (KBSV) said in a report.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

USD prices go up in Vietnam open market, bucking trend at banks

USD prices go up in Vietnam open market, bucking trend at banks

Gold shops in Vietnam’s major cities raised greenback prices by VND60 in both directions from Tuesday to VND25,030-25,130 for respective bids and asks on Wednesday, breaching the VND25,000 psychological threshold.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam dong may weaken 3% in 2024: broker

Vietnam dong may weaken 3% in 2024: broker

The Vietnamese dong, Vietnam’s local currency, is forecast to devalue around 3% against the U.S. dollar this year, a similar magnitude to that seen in 2023, as depreciation pressure lingers, Vietcombank Securities (VCBS) said.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's Big 4 banks cut deposit interest rates to below 2%

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

Vietnam’s four state-owned banks enjoy solid 2023 profit growth

Vietnam’s four state-owned banks enjoy solid 2023 profit growth

Vietnam’s four state-owned banks, known as the "Big 4", all recorded sound profit growth of 10-19% in 2023.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

State-controlled Vietcombank reaps $1.69 bln in 2023 pre-tax profit

State-controlled Vietcombank reaps $1.69 bln in 2023 pre-tax profit

Vietcombank, the largest Vietnamese lender by market capitalization, saw its 2023 pre-tax profit expand 10.2% year-on-year to VND41.2 trillion ($1.69 billion), exceeding the yearly plan by 0.3%, according to the lender’s estimates.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam 2024 credit growth estimated at 12%, bad debt under control: brokerage

Vietnam 2024 credit growth estimated at 12%, bad debt under control: brokerage

Credit growth of Vietnam’s banking system in 2024 is likely to remain the same as this year at around 12%, analysts with Vietcombank Securities (VCBS) said in a new report.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks cut deposit interest rates to record lows amid lukewarm lending

Vietnam banks cut deposit interest rates to record lows amid lukewarm lending

Commercial banks in Vietnam are unanimously lowering their interest rates on short-term deposit to all-time lows as credit demand stays lackluster despite the year-end peak season nearing.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Fitch upgrades ratings of 7 banks in Vietnam, including StanChart, HSBC, ANZ

Fitch upgrades ratings of 7 banks in Vietnam, including StanChart, HSBC, ANZ

Fitch Ratings has upgraded the long-term foreign-currency issuer default rating (IDR) of six banks in Vietnam to ‘BB+,’ one to ‘BB,’ and one unchanged at ‘BB-,’ the rating agency announced Wednesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Positive outlook for Vietnamese banks, GDP growth over 6% in 2024: Fitch

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 bank deposits hit record high of $522 bln at end-September amid lowering rates

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 central bank reduces exchange rate to three-month low

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

Vietcombank loans $140 mln to Vietnam’s biggest coal-fired power plant

Vietcombank loans $140 mln to Vietnam’s biggest coal-fired power plant

The Khanh Hoa province branch of Vietcombank, the largest lender by market valuation, has signed a short-term credit agreement of $140 million with Van Phong Power Company Limited, the operator of the Van Phong 1 power plant.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam dong may depreciate 3% this year: Vietcombank Securities

Vietnam dong may depreciate 3% this year: Vietcombank Securities

The Vietnamese dong (VND) is forecast to weaken by circa 3% against the greenback this year in case the U.S. Dollar Index (DXY) does not rise further, said analysts at Vietcombank Securities Co.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam collects less corporate income tax in 2022 from top 1,000 firms

Vietnam collects less corporate income tax in 2022 from top 1,000 firms

Corporate income tax (CIT) paid by the 1,000 biggest taxpayers in Vietnam in 2022 fell 14.9% from that in 2021, the General Department of Taxation has said.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank gets aggressive with excess liquidity

Vietnam central bank gets aggressive with excess liquidity

The State Bank of Vietnam (SBV) has been persistent in withdrawing excess cash from the system with the aiming of keeping the USD/VND rate stable without tapping its forex reserves.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Commercial banks to continue loan rate cuts: central bank

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%

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

Exchange rate inches up at Vietnam central bank, falls at commercial banks

Exchange rate inches up at Vietnam central bank, falls at commercial banks

The State Bank of Vietnam (SBV) raised the central exchange rate from VND24,088 to VND24,089 per U.S. dollar on Friday, another record high, but the rates at commercial banks moved in the opposite direction.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks raise greenback prices to year-long high

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 currency slides to all-time low against USD

Vietnam currency slides to all-time low against USD

The Vietnamese dong has continued to devalue against the U.S. dollar to a new low, with the greenback remaining strong ahead of a Federal Reserve (Fed) policy meeting.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Central exchange rate hits all-time high of VND24,036

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

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

Early birds: Vietcombank, BIDV offer loans to repay debts with other banks

Early birds: Vietcombank, BIDV offer loans to repay debts with other banks

Two state-owned banks, Vietcombank and BIDV, are early birds taking advantage of loosened regulations to help businesses and individuals repay their debts with other banks.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietcombank to provide $166 mln credit for PV Power projects

Vietcombank to provide $166 mln credit for PV Power projects

“Big 4” lender Vietcombank and Petrovietnam Power (PV Power) have signed a VND4 trillion ($165.6 million) credit agreement for partial funding of two LNG-to-power plants in southern Vietnam.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

USD price hits another year-peak in Vietnam

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 banks cut 12-month deposit rates to below 6%

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

Greenback cools with new central bank reference rate

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 banks cut six-month deposit rates to 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 raises USD price to year-high VND23,881

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

Six lenders join Apple Pay launch in Vietnam

Six lenders join Apple Pay launch in Vietnam

Six Vietnamese banks have joined the Vietnam list of lenders supporting Apple Pay of Apple as the American tech giant launched the payment service in the country on Tuesday.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7