Deposit interest rates up at banks
(Jul 30, 2016)
Many commercial banks have raised deposit interest rates
over the past few weeks for all tenures, raising concerns about an
imminent lending interest rate hike.
The Housing Development Commercial Joint Stock Bank (HDBank) has
signed a memorandum of understanding with Japan's Senshu Ikeda Bank to
provide investment advice and financial services to its customers
seeking to enter Viet Nam.
Credit in Ha Noi's commercial banks in the first seven months of
the year rose 11.8 per cent against December last year to reach VND1,384
trillion (US$61.785 billion), the Ha Noi General Statistics Office
Though the bad debt ratio of the banking system has been reported to
drop to below 3 per cent of its outstanding loans, how to deal with the
amount of bad debt stuck at the Viet Nam Asset Management Company (VAMC)
is still a troublesome job.
Four months after the deadline set by the State Bank of Viet Nam (SBV)
for resolving cross ownership in the banking system, the problem
The central bank is expected to devalue the Vietnamese dong against the
US dollar by 2-3 per cent in the second half of this year to support
exports and fight against the dollarisation in the local economy,
according to a Vietinbank report.
Bank of India on Friday officially inaugurated its first branch in HCM
City, becoming the first Indian bank to receive a licence to open a
branch in the country.
Life Insurance LLC (Generali Vietnam) will offer life insurance
products to Eximbank's customers through the bank's network of more than
200 branches and transaction offices across Viet Nam.
Viet Nam has postponed a US$3-billion international bond issuance
plan due to unfavourable conditions in the global finance and monetary
market, the finance ministry said.
The interest rate would continue to be stable over the remaining
months of the year, the State Bank of Viet Nam (SBV) said in a report
released this week.
Vietnam International Bank (VIB) earned before-tax profit of VND303 billion (US$13.5 million) in the first half of this year.