Banks launch low-interest rate packages to stimulate credit demand

Banks launch low-interest rate packages to stimulate credit demand

Besides supporting customers affected by the Covid-19 pandemic, commercial banks also introduced several support packages with interest rates lower than usual interest rates by 0.5 to 3 percent per annum, worth around VND250 trillion (US$10.66 billion), for both corporate and individual customers to stimulate credit demand.
Gold surpasses VND48 million per tael

Gold surpasses VND48 million per tael

The price of gold in Vietnam continued to escalate by VND600,000 per tael (1.2 ounces) to above VND48 million per tael on March 30 although the global gold price retreated to near US$1,600 an ounce.
Several commercial banks reduce transfer fees

Several commercial banks reduce transfer fees

By March 26, nearly 40 commercial banks have exempted or reduced transfer fees for their clients, accounting for 98.9 percent of total transfer money transactions through the National Payment Service Vietnam (NAPAS).
Enterprises need support through fiscal policies

Enterprises need support through fiscal policies

The recent sharp interest rate cut of the State Bank of Vietnam (SBV) is said to be in time and will affect positively enterprises but these impacts are in the medium and long term.
Commercial banks simultaneously cut mobilizing interest rates

Commercial banks simultaneously cut mobilizing interest rates

After the State Bank of Vietnam adjusted the ceiling of the mobilizing interest rates in Vietnamese dong for terms below six months, on March 18, commercial banks also simultaneously cut mobilizing interest rates for below-six-month terms.
Real estate companies lured more than 50 percent of the total amount of money mobilized in the bond market. (Photo: SGGP)

Enterprises race to mobilize capital from corporate bonds

While stocks of many enterprises and even banks have dropped to below face values, the bond market has warmed up as enterprises raced to mobilize capital through bond issuance, especially small enterprises.
Credit quality of real estate sector continues to be controlled

Credit quality of real estate sector continues to be controlled

Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam – Ho Chi Minh City Branch (SBV-HCMC Branch), reported to the State Bank of Vietnam (SBV) at a meeting on January 10 that the city’s banking industry’s capital mobilization nearly reached VND2.5 quadrillion last year, an increase of 13.5 percent compared to that in 2018, lower than the country’s total capital mobilization of 14.3 percent.
HCMC’s bad debt ratio reduced to 2.2 percent

HCMC’s bad debt ratio reduced to 2.2 percent

According to the State Bank of Vietnam – Ho Chi Minh City Branch, since the beginning of this year, the city’s banking industry has handled more than VND72 trillion of bad debts, reducing the amount of bad debts to VND49 trillion, accounting for 2.2 percent of total outstanding loans.
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.
Banking industry shows good performance

Banking industry shows good performance

Recently released financial statements of the third quarter of this year of commercial banks showed that banking industry has continued to flourish with extremely positive profit growth, in which a large part was contributed by revenue from services.