Posts Tagged ‘ The Banking System ’

Dong deposits attract more interest with key rate hike

December 14, 2009
Dong deposits attract more interest with key rate hike

LookAtVietnam – Local banks have increased interest rates on dong deposits to attract funds following the central bank’s move to raise the base rate. Soon after the benchmark rate was raised from 7 to 8 percent effective this month, commercial banks lifted up their dong deposit rates by 0.7-1.3 percentage points to more than 10.5 percent [...]

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Dong deposits attract more interest with key rate hike

December 13, 2009
Dong deposits attract more interest with key rate hike

Liquidity in the foreign currency market has ‘improved noticeably,’ the central bank said Local banks have increased interest rates on dong deposits to attract funds following the central bank’s move to raise the base rate. Soon after the benchmark rate was raised from 7 to 8 percent effective this month, commercial banks lifted up their [...]

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Acute funding shortages

November 14, 2009
Acute funding shortages

LookAtVietnam – The second stimulus package, via a banking rate subsidy programme, could further exacerbate banks’ funding shortages. “With the first bank rate subsidy programme, the banking system has been facing a fund scarcity. Now the second is coming, it is hard to imagine how the system will cope,” said a Vietinbank official.The interbank market, [...]

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Dollar supply on the rise

August 14, 2009
Dollar supply on the rise

A teller count US dollar note at a bank in Ho Chi Minh City The State Bank of Vietnam says the supply of US dollars is increasing because exporters are selling the currency and foreign investment is rising, easing concern that the dong will weaken. Measures “to improve and reinforce the state’s management of foreign-exchange [...]

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Vietnam to limit bank lending from short-term funds

August 11, 2009
Vietnam to limit bank lending from short-term funds

Tellers count money at a Viet Bank branch in Ho Chi Minh City. Vietnam will restrict commercial banks from giving loans with short-term funds to ensure the stability of the banking system, according to a statement on the central bank’s website Monday. State Bank of Vietnam Governor Nguyen Van Giau has set a maximum limit [...]

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Vietnam caps big banks’ 2009 credit growth at 25 percent

July 18, 2009
Vietnam caps big banks’ 2009 credit growth at 25 percent

A worker cleans an ATM booth of VietinBank in Ho Chi Minh City. The State Bank of Vietnam has asked the country’s biggest lenders to restrict loan growth this year at 25 percent on accelerating inflation concerns. The Lao Dong newspaper on Friday cited a central bank report as saying state-owned banks and two partly [...]

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SSI identifies three biggest problems for banks

July 16, 2009
SSI identifies three biggest problems for banks

LookAtVietnam – Saigon Securities Incorporated has identified the three biggest problems banks will have to face in the time to come, including narrow margin between deposit and lending interest rates. At the beginning of the year, credit grew slowly due to the difficulties of the national economy. The credit growth rates were just 0.6 and [...]

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Deposit rates rise as credit demand increases

July 15, 2009
Deposit rates rise as credit demand increases

Commercial banks raised their interest rates on dong deposits over the past week to meet demand for funds in a recovering economy even with the rates capped by a government ruling. The State Bank of Vietnam said state-run banks, the country’s main lenders, raised their 12-month deposit rates to 8.13 percent last week from 8.01 [...]

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The troubles of Vietnamese banks

July 2, 2009
The troubles of Vietnamese banks

Experts have affirmed that what needs to be done now to prepare for the post-crisis period is to restructure the banking system. Nguyen Duc Huong, General Director of Lien Viet Bank, when talking about the weak points of domestic banks, said that recently, when Vietnam’s national economy was at its lowest and domestic banks had [...]

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Foreign banks against move to tighten credit

July 2, 2009
Foreign banks against move to tighten credit

The Ho Chi Minh City branch of Citibank, one of the 40 foreign bank branches in Vietnam. A new legal amendment that will further limit the amount foreign banks can lend to their customers in Vietnam would have a negative impact on the economy, industry insiders say. Under a draft amendment to the Law on [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...