Tag: "deposits"

Central bank mulls term deposits for foreigners

Central bank mulls term deposits for foreigners

The State Bank of Vietnam (SBV) is collecting feedback on a draft circular that will, among other things, allow non-residents legally present in Vietnam to make term deposits in both VND and foreign currencies.

Some banks enter new rate race

Some banks enter new rate race

Some commercial banks have entered a new interest rate hike race to lure medium- and long-term deposits, pushing the rate to a record high of more than 9% per year.

High liquidity, but no drop in interest rates

High liquidity, but no drop in interest rates

Despite good liquidity in the banking system, the peculiarities in Vietnam’s monetary policy management has prevented the decline of interest rates on deposits, a central economic report said.

Surge in overseas forex trading normal

Surge in overseas forex trading normal

A surge of US$5.9 billion in overseas foreign currency deposits by local commercial banks in the third quarter of last year was normal, said director of the State Bank of Vietnam’s Forecast and Statistics Department, To Huy Vu.

Vietnam weighs ceiling rate future

Vietnam weighs ceiling rate future

Vietnam’s monetary policies resemble China’s in many respects. Two prime examples are the control of capital flows and market interest rates, including the application of ceiling deposit interest rates.

Lower USD interest rate does not harm businesses

Lower USD interest rate does not harm businesses

The US dollar interest rate cut last month will not cause economic losses for organisations or individuals, said the State Bank of Vietnam (SBV) on October 12, adding that it is more beneficial to shift to VND as the difference between the interest rates on USD and VND deposits is now above 5%.

Vietnam scraps ceiling rate on corporate dollar deposits

Vietnam scraps ceiling rate on corporate dollar deposits

Vietnam's central bank said late on September 27 it was abolishing the interest rate ceiling on dollar deposits offered by banks to organisations and companies, which previously stood at 0.25%, in an attempt to avoid dollar hoarding.

Credit grows by 6.09% in first half of 2015

Credit grows by 6.09% in first half of 2015

Vietnam recorded a credit growth rate of 6.09% by June 18 compared to the end of 2014 and 18.98% from the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.

Waste material importers to pay security deposit

Waste material importers to pay security deposit

Individuals and organisations that import waste materials for production purposes must pay security deposits up to 20% of the imported goods' value from the middle of next month.

Dollar credit growth safe: SBV

There is no need to worry about credit growth in foreign currencies in the first half of this year as the ratio of dollar loans versus mobilisation is within its safe threshold.

Vietnam expects 12-14% credit growth in 2014

The State Bank of Vietnam (SBV) said it will promptly solve policy and mechanism-related problems to facilitate credit expansion and ensure the sector’s health safety in the coming time.

Vietnam, China discuss sea issues in Hanoi

(VOV) - The Working Group on Vietnam – China cooperation in less sensitive issues at sea agreed on two joint cooperation projects during their fourth round of negotiations in Hanoi from September 24-26.

Stability rocked by lowering bank loans

Stability rocked by lowering bank loans

(VOV) - There is growing concern about the decision of financial institutions to lower interest rates as banks are struggling to ensure the adequate supply of capital.

Banks see increase in outstanding loans

Banks see increase in outstanding loans

After a decline in the first month of the year, the total outstanding loans of commercial banks in February surged 0.71 percent against December last year, according to the State Bank of Vietnam.