December 19, 2011
Vietnam’s bonds gained Monday on speculation the largest banks are putting cash into debt rather than making loans. The dong dropped. Vietnam Development Bank, a state-owned lender that raises funds for government projects, sold all of the VND1.9 trillion of bonds ($90 million) it auctioned on Dec. 16, according to statements on the Hanoi [...]
Tags: According, banks, Bloomberg, Bonds, By Bloomberg The, Commercial banks, Dec 16, percent, The Dong, Vietnam
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November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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October 8, 2011
Vietnam’s central bank increased its refinancing rate for the first time since May, as the nation tries to steady its currency and tame Asia’s fastest inflation. The State Bank of Vietnam raised the refinancing rate to 15 percent from 14 percent, effective Oct. 10, it said in a statement on its website Thursday. The [...]
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September 20, 2011
Employees at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, attend to customers in Hanoi. Several commercial banks announced lending interest rate cuts, but companies complain they are being denied access to the lower rates. Major lenders like VietinBank and Vietcombank have lowered dong lending rates for loans to businesses and manufacturers to [...]
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August 30, 2011
Dong deposit rates have been capped at 14 percent. Lowering deposit rates will help reduce borrowing costs for businesses, experts said. With improved bank liquidity, Vietnam’s goal of reducing dong interest rates in September may be well within reach, according to local economists. In early August, the State Bank of Vietnam’s new governor Nguyen Van [...]
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August 13, 2011
After holding steady for months against the dollar, the Vietnamese dong began to show signs of weakening this week The Vietnamese dong has weakened after holding steady for months against the dollar, following a gold hoarding panic over the weekend. Commercial banks lowered the dong against the dollar on Thursday, increasing the exchange rate to [...]
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July 30, 2011
Banks in VIetnam have stepped up sales of the dollar as they anticipate a move to reduce their dollar holdings, even as they compete to mobilize more of the greenback to meet increasing demand for dollar loans. “Buying foreign currencies now is easier than ever,” said Dao Duy Kha, deputy general director of Vietnam [...]
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July 15, 2011
As inflation slows and liquidity improves, the high dong deposit rates offered by commercial banks could fall slightly in the coming months, Nguyen Thi Mui, a member of the National Advisory Council for Financial and Monetary Policies, tells Thanh Nien Weekly. Thanh Nien Weekly: Firms say that interest rates are too high now at [...]
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June 28, 2011
Many banks with suplus cash are pouring money into the bond market. Low interest rates on dollar loans are attracting businesses. More than ever before, firms are opting for the foreign currency in a bid to escape escalating dong rates. But economists warn that exchange rates will jump in the coming months, when the central [...]
Tags: banks, Borrowing Dollars, Central, Central bank, Commercial, Commercial banks, currency, Currency Loans, Currency Reserves, director, dollar, Dollar Deposits, Dollar Loans, dollars, Dong Loans, exchange, Exchange rate, firms, Foreign, Foreign Currency, Foreign Currency Loans, Foreign Currency Reserves, Foreign Exchange, Foreign Exchange Rate, From Commercial Banks, From The State, From The State Bank, General, General director, interest, Interest rates, Its Foreign, Its Foreign Currency, Its Foreign Currency Reserves, Its Rate, Its Rate Cap, Kien Long Bank, Last month, Ldquo, loans, Long Bank, Lowered Its Rate, Lowered Its Rate Cap, month, Nguyen, Of Kien Long, Of Kien Long Bank, On Dollar Loans, On Dong Loans, percent, Rate Cap, rates, Rdquo, reserves, Said The Dollar, state, State bank, The bank, The central, The central bank, The Dollar, The foreign, The Foreign Currency, The state, The state bank, Vietnam
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June 28, 2011
Many banks with surplus cash are pouring money into the bond market. Vietnamese bonds have been on the upswing this month as large banks, awash with cash, are reinvesting their money in the securities, analysts say. Some commercial banks are sitting on large amounts of cash due to strong inflows from maturing bonds they bought [...]
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