December 5, 2011
Slowing inflation and talk of financial reforms have not boosted market sentiment as expected, and analysts are predicting the worst will not be over any time soon. Phan Dung Khanh, research manager at Kim Eng Vietnam Securities Co., said the stock market may move sideways or only recover slightly next year. Macroeconomic measures taken [...]
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November 28, 2011
The central bank has completed a plan to restructure the banking system. Vietnam’s central bank said it will consider lowering the dong deposit rate cap in December, admitting that the cap has created an advantage for large banks over smaller lenders. The 14 percent cap was introduced at the end of 2010, but until last [...]
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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 31, 2011
Vietnam’s central bank said it will raise compulsory reserve ratios for foreign currency deposits from next month, the third increase this year as it strives to shore up the local currency and discourage the use of dollars. The move will effectively make it more expensive for banks to deal in dollars, which make up [...]
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December 11, 2010
The Hanoi-based Southeast Asia Commercial Joint Stock Bank (SeABank) on Thursday raised deposit interest rates to 18 percent early Wednesday before reduced them to 13.5 to 14 percent. Interest rates in Vietnam have soared over the past few weeks after the central bank signaled tighter monetary policies to curb inflation and stabilize the foreign exchange [...]
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December 8, 2009
LookAtVietnam – The Prime Minister has ordered the State Bank of Viet Nam to enhance administration of the gold sector, particularly gold-trading centres. The public was still worried about the central bank’s prior proposal to close domestic gold bourses or to increase the security deposit rate to 100 per cent of total net assets.In fact, [...]
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