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 10, 2011
Vietnam’s central bank on Wednesday ordered commercial lenders to report on their progress in lowering deposit and lending interest rates, Thoi Bao Ngan Hang, a publication of the central bank, reported, citing Governor Nguyen Van Binh. Commercial lenders must send the central bank copies of their internal instructions on reducing deposit and lending interest [...]
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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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July 4, 2011
There’s not much in the way of good news on the economic front. Clothes on sale at a ÂÂÂshop in Hanoi last week. Vietnam is fighting to beat back raging inflation. Despite repeated revisions of growth and inflation targets, the former downwards and the latter upwards, they are not likely to be met, experts [...]
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February 2, 2010
LookAtVietnam – Businesses are complaining that their business plan have been damaged because banks refuse to provide loans. X., director of a construction company, has paid back his four billion dong debt that just matured. The bank promised to provide another loan, but then refused, even though the new loan would be equal to ¼ [...]
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January 25, 2010
LookAtVietnam – SME Association Chair Cao Si Kiem has lodged a complaint with the central bank about overly high lending interest rates and “black credit” at banks. The hottest topic of discussion last week was “black credit” at commercial banks, referring to banks providing loans at interest rates higher than quoted rates and ceiling rates as stipulated [...]
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January 23, 2010
LookAtVietnam – Seafood exporters are not expecting a prosperous 2010 – despite an upturn predicted for the global economy. Unfortunately there appear to be just too many problems for them to face. We asked one exporter why he remains so pessimistic about business performance in 2010, when export markets are all expected to open more [...]
Tags: Business, cannot, export, Fish Price, Has Increased, increased, interest, Interest rate, Interest rates, Lending Interest, Lending Interest Rates, Per Kilo, Per month, percent, Percent Per, Percent Per Month, price, Price Has Increased, prices, products, rates, seafood, The price, Tra fish, Tra Fish Price
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January 19, 2010
LookAtVietnam – It has been rumoured that the State Bank of Vietnam may raise the basic interest rate in January 2010. While the State Bank of Vietnam (SBV) has not confirmed or denied the rumour, securities companies have already begun arguing that SBV has no reason to raise the basic interest rate. According to Tran Hai [...]
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January 18, 2010
LookAtVietnam – Commercial banks are still collecting additional fees from borrowers, despite SBV’s warnings. The current basic interest rate is eight percent per annum, which means that commercial banks can lend money at no more than 12 percent per year. Businesses complain that the actual interest rate is 15-16 percent. T., Director of a telecommunication company, contacted [...]
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January 7, 2010
LookAtVietnam – Vietnamese businesses are facing 2010 with optimism for an international recovery while worrying about domestic policies and loan interest rates. On January, the first export consignment in 2010 from the DHA Group consisting of 51,000 shirts, left port for the US. The export consignment is valued at 250,000 dollar, kicking off the implementation [...]
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