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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.

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.

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.

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.

Interest rates to ease

Interest rates to ease

(VOV) - The State Bank of Vietnam (SBV) has announced that basic interest rates will be cut by 1 percent from December 24.

Stable interest rates help businesses survive

Stable interest rates help businesses survive

Interest rates have remained fairly stable since the middle of August and the business community is also increasingly able to access loans, according to the State Bank of Vietnam (SBV).