December 19, 2011
Vietnam needs to implement the restructure of both small and large banks in a drastic manner, an economist says. The central bank has approved the merger of three small banks – Ficombank, Saigon Commercial Bank, and Vietnam Tin Nghia Bank – that are mired in liquidity problems. The restructure of banks will continue for the [...]
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December 9, 2011
A branch of First Commercial Joint-Stock Bank in Hanoi. The bank and two other Vietnamese banks plan to merge to bolster their liquidity. Three Vietnamese banks plan to merge to bolster their liquidity and cut costs as a single entity, the country’s central bank said. First Commercial Joint-Stock Bank, Tin Nghia Commercial Joint-Stock Bank and [...]
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September 24, 2011
Workers clean the Keangnam residence tower in Hanoi September 20, 2011. Like many hoping for easy cash in Vietnam’s property market, Nguyen Thu Huong borrowed VND500 million ($24,000) from a bank in April to buy a new flat she didn’t need and planned to flip. The only question, she thought, was how big the [...]
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July 19, 2011
Vietnam targets annual credit growth of 20 percent for 2011 Nine commercial lenders have failed to cut back credit to non-manufacturing sectors by June 30 and will be punished with higher reserve requirements, the State Bank of Vietnam said last week. Central bank governor Nguyen Van Giau said the lenders, including five partly private banks [...]
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July 12, 2011
A customer uses an automated teller machine (ATM) in Ho Chi Minh City. It can be said without exaggeration that delaying deadlines has become a chronic disease in Vietnam, especially at the administrative level. Whether it is an important thing like a new regulation or something less so like a new academic program, everything can [...]
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December 11, 2010
The Hanoi-based Southeast Asia Commercial Joint Stock Bank (SeABank) on Thursday raised deposit interest rates to 18 percent early Wednesday before reduced them to 13.5 to 14 percent. Interest rates in Vietnam have soared over the past few weeks after the central bank signaled tighter monetary policies to curb inflation and stabilize the foreign exchange [...]
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January 29, 2010
Vietnamâs banking system is not capable of meeting the foreign currency demand of residents, compelling them to engage in black market trading, a central bank official told Thanh Nien. The official, who wished to be unnamed, said because unofficial rates are higher than those at the banks, many people favor selling US dollars on the [...]
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January 27, 2010
LookAtVietnam – Commercial banks are proposing the ceiling interest rate scheme is removed, saying it has caused major difficulties in capital mobilization and lending. According to the governor of the State Bank of Vietnam Nguyen Van Giau, five out of 16 banks in HCM City have been found to have outstanding loans double the mobilized [...]
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January 16, 2010
In this Nov. 14,2009, file photo, President Barack Obama delivers a speech in Tokyo President Barack Obama on Saturday slammed Wall Street’s “audacity” for fighting a bailout fee he wants to slap on financial firms and said his Republican opponents had sided with big banks. With Obama’s popularity hovering around 50 percent and congressional elections [...]
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December 28, 2009
LookAtVietnam – The Secretary General of the Vietnam Banking Association (VNBA) claims the liquidity difficulties are temporary. Secretary General Duong Thu Huong, in the interview given to Dau Tu Chung Khoan, stated that the demand for capital always increases in the fourth quarter, when businesses make payments as well as disbursement and clear stocks. Commercial [...]
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