Commercial banks lower interest rates

Commercial banks lower interest rates

After the State Bank of Vietnam decided to lower the ceiling interest rates on loans and deposits in Vietnamese dong from November 19, a slew of commercial banks have started reducing interest rates.
Former OceanBank Chairman Ha Van Tham in court (Source: VNA)

Former OceanBank executives stand trial in Hanoi

The People’s Court of Hanoi on August 28 opened the first instance hearing for former Chairman of the Board of Directors of the Ocean Commercial Joint Stock Bank (OceanBank) Ha Van Tham and other 50 defendants for serious violations of the State’s monetary policies.
Net Interest Margin of commercial banks in 2016 (percent). (Source: BIDV Securities Company)

Trimmed interest rates might affect NIMs: experts

Commercial banks which have cut interest rates for short-term lending following the State Bank of Vietnam’s cue might suffer a further decline in the net interest margin (NIM), experts said.