June 22, 2009
Commercial banks have continuously adjusted VND and US$ deposit interest rates, thus creating a new interest rate ground. Now people don’t know whether they ought to open VND or US$ deposits. Nguyen Tien Dung, the owner of a woodwork shop in Hanoi, related that he has earned a big sum of money from securities investment [...]
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May 5, 2009
With the 4% lending interest rate subsidy programme, lending interest rates have become even lower than deposit interest rates. Under present regulations, with the basic interest rate at 7% per annum, the ceiling lending interest rate is 10.5%. However, taking advantage of the 4% interest rate subsidy programme, businesses are borrowing money at 6.5% at [...]
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May 5, 2009
VietNamNet Bridge – Commercial banks all have been raising deposit interest rates as they need more capital to serve disbursement plans as interest rate subsidy programmes are in full swing. Saigon-Hanoi Bank (SHB) has announced the ‘super attractive savings programme 3+’ which has been applied for April 2 – June 2. The programme offers very [...]
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April 27, 2009
It is expected that by the end of April 2009, the total mobilised capital will have increased by 7% over December 31, 2008. Meanwhile, outstanding loans are expected to have increased by 5% only. Thanks to banks’ profuse capital, lending interest rates have been stable since mid April, according to the State Bank of Vietnam. [...]
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April 24, 2009
Vietnamese are depositing money into US dollar bank accounts instead of VND accounts, despite the low interest rates banks offer for US$ deposits, because they expect the dollar to strengthen further against the dong. Interest rates of both demand and fixed term US dollar deposits (less than 12 month term deposits) slid by another 0.2-0.3% [...]
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April 10, 2009
By the end of 2009, the VND may depreciate by 5% or more against the dollar, according to Bui Kien Thanh, Senior Advisor to KHM Inc, General Director of IAMC. Thanh said that the factor that has direct impacts on the exchange rate is the result of the Government’s second demand stimulus package. If the [...]
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March 13, 2009
Commercial banks have raised the VND deposit interest rates drastically, kicking a new interest rate wave, the first one in 2009. Not only joint stock banks, but state-owned banks have also joined the interest rate war. Analysts said that banks try to push up the capital mobilization in order to be able to prepare profuse [...]
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