The State Treasury raised nearly VND36.6 trillion (US$1.58 billion) worth of Government bonds, or 79.12% of the total G-bonds on offer, via 12 auctions on the Hanoi Stock Exchange in February.

The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5% to 1%, which will come into force on March 15.

Credit growth in the first months of this year slowed significantly due to high interest rates and firms’ poor health, raising concerns about rising bad debts.

Deputy Prime Minister Tran Hong Ha has requested promptly tackling obstacles in social housing development policies and mechanisms, with incentives in infrastructure, land and finance for developers engaged in the effort.

Affordable home buyers can access preferential loans at rates 1.5-2% lower than the market average as part of a credit package worth around VND120 trillion (US$5.02 billion).

The State Bank of Vietnam (SBV) has recently granted the first credit growth quotas in 2023 to a number of banks, with a majority of them receiving lower rates than last year.

The group of the four biggest State-owned banks (Big 4) have launched preferential loan packages with interest rate reductions of up to 3% per year to lower short-term lending rates to only 7% per year.

Many banks have just launched credit packages with preferential lending interest rates that decreased by between 0.5-3% per year for customers in the fields of business and production, including real estate.

The State Bank of Vietnam (SBV) has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.

Many banks reported negative results in securities trading and investment in 2022 due to the interest rate hike, the exchange rate uncertainty, the sharp decline of stock indices and the ‘freezing’ of the corporate bond market, cafef.vn reported.