October 16, 2011
Many banks are facing liquidity problems The Vietnam Banks Association plans to propose a lower deposit interest rate ceiling of 13.5 percent for large banks, saying it would help small lenders. All banks in Vietnam are now subject to the same deposit ceiling of 14 percent, which industry insiders say would hurt small banks in the long [...]
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October 1, 2011
Vietnam’s central bank said it will cap interest rates on dong deposits that are non-term and those less than a month at 6 percent to address “liquidity risks,” amid concerns about the health of the nation’s banking system. The State Bank of Vietnam will maintain the existing 14 percent rate cap on deposits of [...]
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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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September 18, 2011
Dong A Bank has been banned from opening new branches for a year. Partly private lender Dong A Bank has been banned from opening new branches for a year after one of its branches was found violating the deposit interest rate ceiling of 14 percent. The central bank said it would also not allow the [...]
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July 5, 2011
Vietnamese banks’ high dong interest rates are expected to cool slightly due to improved liquidity as the central bank cut one of its key rates to tackle distorted rate-levels, bankers said on Monday. On Monday, the central bank lowered the cost of funds for banks via open market operations, cutting the reverse repo rate [...]
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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 [...]
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April 25, 2011
New central bank directives to reduce dollar hoarding, economist says A local commercial bank staff receives bricks of dong bank notes from a customer in Hanoi. A government advisor says people will soon start saving their money in dong. A new cap on dollar deposit rates – 3 percent for individuals and 1 percent [...]
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April 25, 2011
Economists said the recent decline in the dollar was a positive signal Many companies and individuals have sold their foreign currency to banks, causing the dollar to fall sharply against the dong over the past week, bankers said. Truong Van Phuoc, general director of Eximbank, said as interest rates on dong deposits are now high [...]
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April 16, 2011
Local banks have lowered their interest rates on dollar deposits. Economists and bankers are expecting a switch from dollar holdings to dong assets after the central bank capped the interest rate on dollar deposits. The State Bank of Vietnam has capped dollar deposit rates at 3 percent for individuals and 1 percent for institutions, effective [...]
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March 12, 2011
The State Bank of Vietnam raised a main policy interest rate to 12 percent The State Bank of Vietnam raised a main policy interest rate to 12 percent, boosting borrowing costs for the third time in as many weeks as the government steps up its fight against inflation. The refinancing rate, one of the main [...]
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