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“Big four” banks to lower interest rates on January 10

"Big four" banks to lower interest rates on January 10

VOV.VN - Four major commercial banks have pledged to slash lending rates as of January 10 in a bid to further leverage access to loans for businesses operating in the prioritized sectors as stipulated by the State Bank of Vietnam.

Consumer finance arms race

Consumer finance arms race

Consumer finance companies are offering various promotions to customers, aiming to enlarge their share in an increasingly competitive market.

90% of social insurance fund invested in G-bonds

90% of social insurance fund invested in G-bonds

About 90% of social insurance funds are currently invested in government bonds (G-bonds), Dao Viet Anh, Deputy General Director of the Vietnam Social Security (VSS), said at a seminar last week.

Interbank interest rate sharply rises

Interbank interest rate sharply rises

The Vietnam dong’s interest rate on the interbank market exceeded 3% per annum for the first time over the past more than six months.

OMO rates cut to support growth

OMO rates cut to support growth

The State Bank of Vietnam (SBV) late last week announced its first interest rate cut in the open market operation (OMO) in the past five years.

G-bonds worth over US$7 billion issued in 2017

G-bonds worth over US$7 billion issued in 2017

G-bonds worth VND159.9 trillion (US$7.04 billion) and having an average maturity of 13.52 years, up 4.81 years against 2016, were issued last year, according to the Ministry of Finance.

Interest rate likely to stay stable: report

Interest rate likely to stay stable: report

The prospect of stable interest rate in 2017 is being supported by macro factors and policies such as reduced pressure in exchange rate and drastic measures in tackling bad debt, the National Financial Supervisory Commission said.

HCM City to offer soft loans to manufacturing firms

HCM City to offer soft loans to manufacturing firms

The HCM City People’s Committee plans to offer low-interest loans of no more than VND200 billion (US$8.8 million) with a maximum seven-year term to enterprises operating in the manufacturing or support industry.

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.

Interest rate under pressure to stay steady

Interest rate under pressure to stay steady

The State Bank of Vietnam has targeted keeping interest rate stable in 2017, however, the market’s developments in the first half of January 2017 show that lending rates are suffering from many pressures.

Credit growth goal set at 18% for 2017

Credit growth goal set at 18% for 2017

The State Bank of Vietnam (SBV) has set a credit growth target of 18% for this year and it pledged to continue measures to keep credit growth suitable to the country’s economic development.

Macro-economic stability maintained

 Macro-economic stability maintained

VOV.VN - Vietnam’s economy has developed significantly in the third quarter but achieving this year’s target growth rate of 6.3-6.5% requires a doubling of efforts.