December 4, 2009
LookAtVietnam – Banks have said new customers will find it hard to obtain bank loans as they have difficulty mobilizing funds from the public despite higher interest rates. Nguyen Quoc Sy, deputy general director of Western Commercial Bank, said his bank had been unable to lure as much capital from the public as expected and [...]
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December 3, 2009
Vietnamâs government has told international organizations that it has shifted its economic focus toward stability, saying it will tighten its monetary policy and work to improve the balance of payments. Vietnam will âtransfer from a loose monetary policy to a cautious, flexible policy, to ensure a reasonable credit growth rate, thus supporting the targets of [...]
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July 28, 2009
Banks in Vietnam have lent a total of VND385.58 trillion (US$21.7 billion) under the government loan subsidy program Most small and medium sized enterprises (SMEs) have not been able to avail of the governmentâs 4 percent interest rate subsidy on loans despite being the target beneficiaries of the scheme. The main reason given by banks [...]
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July 12, 2009
Vietnamese bonds will probably weaken further, as an interest-rate subsidy program has boosted loan growth and as the government is forced to boost yields to finance stimulus spending, HSBC Holdings Plc said. The yield on five-year Vietnamese government bonds has increased 40 basis points over the past two weeks, closing Friday at 9.75 percent, the [...]
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April 29, 2009
The loan-subsidy program in Vietnam is creating a âcredit boomâ that may increase bad loans and stoke inflationary expectations, according to Citigroup Inc. Credit growth slowed to 25 percent last year from 54 percent in 2007 after the central bank raised interest rates, âtightened market liquidity conditions, and restricted bank lending activities through moral suasion,â [...]
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February 14, 2009
Workers at a local woodwork export company. Banks have committed to lend a combined VND300 trillion (US$17.14 billion) to businesses in the first quarter under a government loan subsidy program, the central bank deputy governor said Thursday. Nguyen Dong Tien said the interest subsidy policy, which aims to help businesses deal with the economic downturn, [...]
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Vietnam says to move away from loose monetary policy
Vietnamâs government has told international organizations that it has shifted its economic focus toward stability, saying it will tighten its monetary policy and work to improve the balance of payments. Vietnam will âtransfer from a loose monetary policy to a cautious, flexible policy, to ensure a reasonable credit growth rate, thus supporting the targets of [...]
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