November 21, 2011
The central bank has introduced a cap on bank deposit rates in an attempt to prevent unhealthy competition between lenders The 14 percent cap on bank deposit rates is only a temporary measure to ensure safety for the financial system and can be lifted when the market becomes stable, a central bank official said. The [...]
Tags: 14 Percent, Bank Deposit, Bank Deposit Rates, banks, Between Lenders, Central, Central bank, Competition Between Lenders, Deposit, Deposit Rates, interest, Interest rates, Interest Rates Are, Ldquo, Lenders, On Bank Deposit, On Bank Deposit Rates, Prevent Unhealthy, Prevent Unhealthy Competition, Prevent Unhealthy Competition Between, Rate Cap, rates, Rdquo, The Cap, The central, The central bank, The market, To Prevent Unhealthy, To Prevent Unhealthy Competition, Unhealthy Competition, Unhealthy Competition Between, Unhealthy Competition Between Lenders, Vietnam, When The Market
Posted in Business | Comments Off
October 17, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Bank depositors are shifting their funds to other investment channels after the central bank ordered commercial banks to comply with a 14 percent ceiling on dong deposit interest rates. Several banks have said their deposits are [...]
Tags: 14 Percent, banks, Capital Securities, Capital Securities Said, Central bank, Commercial, Commercial bank, Deposit, Deposit Rates, deposits, Dong Deposit, Dong Deposit Rates, Dong Interest, Dong Interest Rates, Funds, His Bank, interest, Interest rates, It Was Only, Ldquo, lower, Lower Dong, Lower Dong Deposit, Lower Dong Deposit Rates, market, percent, rates, Rdquo, Said ldquo, September, small, Small Banks, Thanh, Thanh nien, The central, The central bank, Their Funds, Thuan, Viet Capital, Viet Capital Securities, Viet Capital Securities Said
Posted in Business | Comments Off
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 [...]
Tags: 20 Percent, August, August 19, banks, Banks Now Have, Borrowing, Borrowing Costs, capital, Central, Central bank, Commercial, Commercial banks, Commercial banks have, customers, Customers Rdquo, Deposit, Deposit Rates, Former Governor, General director, governor, Have Also Been, inflation, interest, Interest rates, Interest Rates Are, Kiem Said The, Ldquo, lending, Lending Interest, Lending Interest Rates, Lending Rates, Liquidity, lower, Lure Customers, Many Firms, One Month Ago, one-month, percent, rates, Rdquo, reduce, reduced, Said The Central, Said The Central Bank, Said Truong, September, Thanh nien, The central, The central bank, The government, The Rates, The state, Their Lending, Their Lending Interest, Their Lending Interest Rates, This year, To Lure Customers, Vietnam
Posted in Business | Comments Off
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 [...]
Tags: 09 Percent, 13 Percent, 16 Percent, 20 Percent, 22 Percent, 25 Percent, banks, Banks Are Offering, capital, Central bank, Commercial, Commercial banks, Commercial banks have, credit, Credit Growth, Deposit, Deposit Rates, Dong Deposit, Dong Deposit Rates, For Credit Growth, growth, In June Over, inflation, interest, Interest rates, June 30, June Over, Last year, Lenders, lending, Liquidity, loans, lower, manufacturing, Manufacturing Sector, market, monetary, Monetary Policy, Monetary Policy Should, Money Supply, months, Most Commercial, Most Commercial Banks, Most Commercial Banks Have, Nguyen thi, Nguyen Thi Mui, Nien Weekly, Non Manufacturing, Non Manufacturing Sector, Non Production, Non Production Sector, Of This Year, percent, policy, production, Production Sector, rates, reduce, Room For Credit, Room For Credit Growth, sector, sectors, signs, small, Small Banks, Some Small, Thanh, Thanh nien, Thanh Nien Weekly, That Interest Rates, The central, The central bank, The economy, The Monetary, The Monetary Policy, The Monetary Policy Should, The Non, The Non Manufacturing, The Non Manufacturing Sector, The Non Production, The Non Production Sector, The Property, The reduction, The Sbv, The sector, Their Loans, Thi Mui, This year, To The Non, To The Non Manufacturing, To The Non Production, total, Total Loans, weekly
Posted in Reports | Comments Off
June 1, 2011
Economist argues that Vietnam should pursue a slow, holistic approach to solving its economic woes A branch of SeABank in Ho Chi Minh City now offers 14 percent per year on dong deposits. A university professor said a “war” between banks directly led to high interest rates. Interest rates on dong deposits at some [...]
Tags: 14 Percent, 25 Percent, And medium sized, And medium sized enterprises, Argues That Vietnam, banks, Banks Offered, Between Banks, Central, Central bank, Central Bank Could, Chi minh, Chi minh city, credit, Deposit, Deposit Rates, deposits, Dong Deposits, Government, High interest, High Interest Rates, Ho Chi, Ho Chi Minh, Ho Chi Minh City, inflation, interest, Interest rate, Interest Rate Problem, Interest rates, Large Banks, larger, Larger Banks, Ldquo, Ldquo War, Ldquo War Rdquo, Ldquo War Rdquo Between, Le Tham, Le Tham Duong, Lenders, lending, Lending Rates, Lending Rates Would, loans, long-term, measures, medium, Medium sized, Medium sized enterprises, Minh city, offered, On Dong Deposits, On Lending Rates, percent, problem, Rate Cap, Rate Problem, rates, Rates Would Fall, Rdquo, Rdquo Between Banks, short-term, Sized enterprises, small, Small And Medium, Small And Medium Sized, Small Banks, Small Lenders, Take Things, Take Things Slow, Term Loans, Tham Duong, The central, The central bank, The Central Bank Could, The government, The interest, The interest rate, The Main, The problem, These Small, They Ll, They Needed, thing, things, Things Slow, To Deal With, To High Interest, To High Interest Rates, To Take Things, To Take Things Slow, Vietnam, War Rdquo, War Rdquo Between, War Rdquo Between Banks, We Don, We Need
Posted in Reports | Comments Off
April 29, 2011
Vietnam’s dong advanced to a two- month high on speculation the supply of dollars has increased after the government capped deposit rates for accounts denominated in the US currency. Government bonds gained. The country now has an “abundant” supply of dollars as individuals and companies have been selling about $10 million to $15 million [...]
Tags: According, banks, Banks Compiled, Bloomberg, Bonds, Bonds Gained, currency, Deposit Rates, dollar, dollars, From Banks Compiled, Gained, Government, Government Bonds, Government Bonds Gained, Hanoi, Its Website, percent, rates, supply, The government, Vietnam
Posted in Business | Comments Off
April 26, 2011
Vietnam has capped dollar deposit rates at 3 percent for individuals and 1 percent for institutions In another effort to curb dollar hoarding and increase foreign currency circulation in Vietnam, the central bank may slash interest rates on corporate dollar deposits to zero percent, VnExpress reported Monday. The news website cited Nguyen Hoang Minh, director of [...]
Tags: Capped Dollar, Capped Dollar Deposit, Capped Dollar Deposit Rates, Corporate Dollar, Corporate Dollar Deposits, Deposit Rates, deposits, dollar, Dollar Deposit, Dollar Deposit Rates, Dollar Deposits, For Individuals And, Foreign Currency, individuals, percent, Percent For Individuals, Percent For Individuals And, Percent For Institutions, rates, The central, Vietnam
Posted in Business | Comments Off
March 20, 2011
Interest rates are likely to fall in June, a government advisor says Interest rates are likely to fall in June as the government is tightening control over the ceiling rate and taking strong measures to combat dollarization, a government advisor says. Tran Hoang Ngan, a member of the National Advisory Council for Financial and Monetary [...]
Tags: Advisor Says, banks, Central bank, Deposit, Deposit Rates, Dong Deposits, Government, Government Advisor, Government Advisor Says, interest, Interest rates, Interest Rates Are, Interest Rates Are Likely, On Dong Deposits, Rate Cap, rates, Rates Are Likely, State bank, The central, The central bank, The state, The state bank
Posted in Business | Comments Off
February 12, 2011
Banks are now charging a shocking 19-20 percent interest rate on loans. Banks in Vietnam are setting interest rates on dong loans at a record level of 19-20 percent, similar to the peak seen in 2008, the Tuoi Tre newspaper reported on Friday. The report cited business executives as saying despite expectations that interest rates would [...]
Tags: 19 20, 20 Percent, company, Deposit Rates, director, interest, Interest rates, level, percent, rates, Said they were, The company, The Director, The Director Said
Posted in Business | Comments Off
January 28, 2011
A client fills out a dollar deposit form at an Asia Commercial Bank branch in Ho Chi Minh City. Local banks are boosting interest rates on dollar deposits as they vie with each other to tap stronger remittances from overseas Vietnamese just before the Tet holiday. Bankers said the days before the biggest holiday of [...]
Tags: attract, banks, Chi minh, Chi minh city, Commercial, Commercial bank, demand, Demand For Dollar, Demand For Dollar Loans, Deposit, Deposit Rates, deposits, dollar, Dollar Deposit, Dollar Deposit Rates, Dollar Deposits, Dollar Funds, Dollar Loans, Dollar Rates, dollars, Dong Deposits, Dong Loans, Economist Le, For Dollar Loans, Funds, highest, Highest Rate, His Bank, Ho Chi, Ho Chi Minh, Ho Chi Minh City, interest, Interest rate, Interest rates, Large Gap, Last year, Ldquo, loans, Local, Local Banks, Local Banks Are, Minh city, Of More Than, On Dollar Deposits, On Dong Deposits, overseas, Overseas Remittances, percent, rates, Rdquo, remittances, source, The highest, The Highest Rate, Vietnam, Vietnam Banks
Posted in Business | Comments Off
