January 25, 2012
Consumer demand for holiday goods and transportation will grow 10 percent from last year, according to a government forecast that urged authorities to monitor and stabilize prices. Asia’s fastest inflation is the last thing on Tran Hang’s mind as she jostles fellow shoppers at a street stall in Hanoi’s Old Quarter to snap up [...]
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January 23, 2012
Vietnam’s benchmark stock index on January 19 rose the most in seven months and the currency rallied to a one-month high on speculation the central bank will cut interest rates and limit declines in the dong. The Ho Chi Minh City Stock Exchange’s VN Index climbed 3 percent to 373.43 at the 11 a.m. [...]
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January 20, 2012
Many banks in Vietnam fear that bad debts could rise this year. Many banks in Vietnam say dealing with bad debts rather than credit growth is going to be a priority task for 2012. According to the Dau Tu (Investment) newspaper, even large banks in the country fear that bad debts could rise this year. State-owned Bank [...]
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January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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January 11, 2012
An upswing in mergers and acquisitions in the banking system will occur this year, bringing the number of banks in Vietnam to below 30, the Dau Tu (Investment) newspaper has reported, citing experts. Economist Nguyen Tri Hieu said there will be a strong M&A wave in the sector as many lenders are looking for [...]
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January 11, 2012
Vietnam’s five-year bonds on Monday fell on speculation an increase in money-market rates prompted banks to sell the securities to raise cash. The dong was steady. Overnight interbank borrowing rates climbed to 12.25 percent Monday, the highest level since Dec. 16, from 11.95 percent on Jan. 6, data compiled by Bloomberg show. The money [...]
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December 30, 2011
Strong small banks should be allowed greater lending growth A local commercial bank’s employee counts money next to piles of dong notes in Hanoi on Monday The application of different credit caps on different banks based on their operational capacity is expected to correct a situation where banks with customers cannot offer loans while [...]
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December 25, 2011
After years of sky-rocketing credit growth to finance development, Vietnam’s banking system is now weighed down by toxic loans that have forced the communist nation to launch tough reforms. The Southeast Asian country’s financial sector consists of about a hundred banks — either state-owned, private or foreign bank branches. But most have only limited [...]
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December 23, 2011
Vietnam’s two-year bonds gained Friday on speculation commercial lenders will lower interest rates after inflation slowed for a fourth month. The dong advanced. Consumer prices climbed 18.13 percent this month from a year earlier, compared with a 19.83 percent increase in November, according to data from the General Statistics Office Friday. Interest rates on [...]
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December 20, 2011
Vietnam’s five-year bonds gained the most since August after the central bank added cash to the financial system, increasing the amount of funds available for lenders to invest in debt. The dong was little changed. “Liquidity is good as the State Bank of Vietnam has been injecting money into the system through open-market operations,” [...]
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