Vietnam Breaking News
Banking
Central bank: credit growth +16.27%, M2 +16.31% in Jan-Aug
Total outstanding loans of local banks are estimated to have increased by 16.27% in the first eight months of 2010, the state-run online newspaper Vneconomy reported September 8, citing official data from the State Bank of Vietnam (SBV). However, the credit growth of the whole banking system in Jan-Aug was only 15% , as estimated [...]
Bank capital requirement increases begin
The Government is requiring that commercial banks have until December 31, 2010 to increase their chartered capital holdings to three trillion dong. Since banks do not have much time, they should issue shares to raise capital now, even though the stock market remains anemic. After plans to increase chartered capital holdings gained approval from the [...]
Should we worry when banks’ credit ratings fall?
A lot of people are troubled by recent reports that Fitch Ratings lowered the credit rating of two big banks, state-owned Vietcombank and the nation’s largest private bank, Asia Commercial Bank (ACB). A top Government economist says Fitch’s rating is of doubtful merit for many reasons. Tuoi Tre newspaper asked Dr. Le Xuan Nghia, a [...]
Commercial banks fail to “conquer” traditional markets
Commercial banks have been trying to provide loans to small merchants at traditional markets for the last 15 years. However, though offering loans with lower interest rates, they still cannot dislodge individual lenders from their prominent positions. Tran Thi Kim, the owner of the ready-made clothes shop at Tan Binh Market, admitted the loan interest [...]
Vietnam’s lending rates to drop – central bank governor
Short-term lending rates in Vietnam are expected to come down, thanks partly to funds the central bank has extended to banks, State Bank of Vietnam governor Nguyen Van Giau was quoted on Wednesday as saying. Lending rates were not falling quickly at present because banks were cutting deposit rates slowly, Giau said in an interview [...]
Eximbank raises Dollar interests rates to 4.65%
Export-Import Joint Stock Commercial Banks raised the dollar deposit interest rates to 4.65% from September 1, said the lender on its website . EximBank has announced the new dollar deposit interest rate of 4.65% per annum (p.a), from 4.45% per annum set from August 18, the second upward adjustment in two weeks. The unlisted bank [...]
Dollar deposit interest rates can’t surge much
Despite the dollar deposit interest rate hike seen at the local banks, Cao Si Kiem, the State Bank of Vietnam’s Former Governor sees little room for dollar deposit interest rates to surge much. Dollar Deposit Interest Rate Already Surges… Dollar deposit interest rates have been raised by the local banks as a situational measure on [...]
Trading of Dong on Vietnam interbank market falls, Dollar eases
The trading of dong on the interbank market fell while that of dollar eased in the week ending August 19, said the State Bank of Vietnam (SBV) on August 26. The total trading value of dong on the inter-bank market in the week ending August 19 declined by VND 7.747 trillion to VND 97.372 trillion [...]
Central bank may review call deposits for lending in Circular 13
Experts believe that the State Bank of Vietnam (SBV), the country’s central bank may include call deposits of economic organisations into all the funds mobilised by banks. The government Office has lately sent Official Letter No 5801/VPCP – TH stating the instructions from Vietnam’s prime minister asking the central bank reviewing Circular 13/2010/TT-NHNN issued recently [...]
Small local banks to delay listings to 2011, yet face difficulties
Small local banks are likely to delay their listing plans to next year on reasoning that they want to focus on the task of raising charter capital to VND3 trillion first and the 2010 timing is now not good on share dilution concerns. Banks’ Plans SaigonBank has decided to delay its listings on the HOSE [...]
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