January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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January 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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January 9, 2012
 Street vendors ply their goods in downtown Ho Chi Minh City. The Asian Development Bank has lowered Vietnam’s economic growth forecast in 2012 to 6.3 percent from 6.5 percent forecast last September. With the world economy remaining mired in difficulty, the Asian Development Bank forecasts a difficult year ahead for Vietnam. However, it [...]
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December 30, 2011
Strong small banks should be allowed greater lending growth A local commercial bank’s employee counts money next to piles of dong notes in Hanoi on Monday The application of different credit caps on different banks based on their operational capacity is expected to correct a situation where banks with customers cannot offer loans while [...]
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December 19, 2011
File photo dated last year shows a man putting gold into a molding machine at the Sacombank gold bar factory in Ho Chi Minh City . All gold bar producers, except SJC, are expected to completely stop bullion production. Huge losses and unemployment for hundreds of workers loom as gold bullion producers prepare to [...]
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December 17, 2011
Vietnam Tin Nghia, Ficombank and Saigon Commercial Bank will be merged into a new lender. Around 90 percent of shareholders at three local banks, Vietnam Tin Nghia, Ficombank and Saigon Commercial Bank, have voted in favor of the merger of the three. They also reached an agreement Thursday that the new bank formed by the merger [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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December 2, 2011
The State Bank of Vietnam will sign a joint-circular with the Ministry of Public Security to improve anti-crime efforts in banking and lending activities, according to a banking conference in Ho Chi Minh City on Wednesday. Central bank governor Nguyen Van Binh made the announcement at the conference, where officials pointed out that the [...]
Tags: activities, banking, banks, cases, Central bank, corruption, Corruption cases, lending, Lending Activities, money, Officials, Police, state, State bank, Thanh, The Banking, The state, The state bank, Vietnam
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November 26, 2011
Vietnam’s inflation slowed for a third month in November, and the central bank signaled it may consider lowering interest rates. Consumer prices rose 19.83 percent from a year earlier, after climbing 21.59 percent in October, the General Statistics Office said in Hanoi Friday. The State Bank of Vietnam has room to cut policy rates [...]
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November 26, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Vietnam’s central bank unveiled plans to create a three-tiered financial industry dominated by 15 lenders as part of efforts to allay concerns over the nation’s banking system. The country aims to have 15 “big” banks by [...]
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