September 23, 2009
LookAtVietnam – Just days ago, commercial banks agreed to maintain present interest rates until the end of 2009. Yet deposit interest rates continue to rise. The banking association called on banks to halt the interest rate race because it believed that banks raised interest rates not because they lacked capital, but to attract more clients. [...]
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September 3, 2009
LookAtVietnam – The increases of US$ deposit and lending interest rates are thought to be the main reasons that US$ bonds are currently unsalable. Banks cannot purchase long-term bonds with short-term capital $100 million worth of one-year bonds were sold in last week’s issuance, but only $47 million worth of two-year bonds and 20 percent of [...]
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September 3, 2009
VietNamNet Bridge – US$ deposit and lending interest rates offered by commercial banks have been increasing again after a long period of staying at low levels. Banks began raising US$ deposit interest rates in late August and early September, a new trend in the monetary market. Prior to that, in the second quarter of 2009, [...]
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August 17, 2009
LookAtVietnam – Some joint-stock banks have raised US$ deposit interest rates again since the beginning of August 2009, especially on long-term deposits. The highest US$ deposit interest rate now available is offered by Saigon Bank, at 3.3 percent per annum for 60-month term deposits. The rates offered by the bank for 6- , 9-, 12-month term [...]
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June 29, 2009
VietNamNet Bridge – While US$ interbank interest rates have been decreasing, the VND/US$ exchange rate keeps rising. According to the State Bank of Vietnam, VND lending interest rates last week were more stable than the previous week. The lending rates applied by state-owned banks last week were between 8.5-10 percent per annum for short-term loans [...]
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June 22, 2009
Commercial banks have continuously adjusted VND and US$ deposit interest rates, thus creating a new interest rate ground. Now people don’t know whether they ought to open VND or US$ deposits. Nguyen Tien Dung, the owner of a woodwork shop in Hanoi, related that he has earned a big sum of money from securities investment [...]
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June 11, 2009
Commercial banks promised in late May 2009 that they would slash US$ deposit interest rates to 1.5 percent per annum at the highest. However, banks have not fulfilled their commitments. To date, only state-owned banks, including Vietinbank, BIDV, equitised Vietcombank and joint stock DongA Bank, have slashed US$ interest rates to the committed levels. Meanwhile, [...]
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March 10, 2009
VietNamNet Bridge – US$ interest rates have been on the decrease. Meanwhile, the Ministry of Finance is going to issue government bonds in foreign currencies under the decision by the Prime Minister. According to the State Bank of Vietnam, in the week from February 26 to March 4, the VND deposit interest rate saw little [...]
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March 2, 2009
Commercial banks have slashed US$ deposit and lending interest rates as the demand has become weaker. While commercial banks’ US$ capital has become more profuse after a period of intense mobilizing from the public, the demand for US$ loans has become weaker as businesses prefer borrowing VND loans under the 4% interest rate subsidy program. Besides, [...]
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