December 14, 2009
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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December 13, 2009
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 bankâs 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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November 14, 2009
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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August 14, 2009
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 âto improve and reinforce the stateâs management of foreign-exchange [...]
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August 11, 2009
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 bankâs website Monday. State Bank of Vietnam Governor Nguyen Van Giau has set a maximum limit [...]
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July 18, 2009
A worker cleans an ATM booth of VietinBank in Ho Chi Minh City. The State Bank of Vietnam has asked the countryâs 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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July 16, 2009
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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July 15, 2009
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 countryâs main lenders, raised their 12-month deposit rates to 8.13 percent last week from 8.01 [...]
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July 2, 2009
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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July 2, 2009
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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