Bank tightens interest rates in dong savings
The Governor of the State Bank of Vietnam (SVB) on March 2 ordered the
heads of every SBV branch in the country to monitor the interest rates
on Vietnamese dong savings deposits offered by local credit
organisations.
The Governor of the State Bank of Vietnam (SVB) on March 2 ordered the
heads of every SBV branch in the country to monitor the interest rates
on Vietnamese dong savings deposits offered by local credit
organisations.
The order was made as some commercial banks in localities have raised their interest rates on Vietnamese dong deposits to 17-18 percent a year, driving up the level of savings interest and causing instability in the deposit market.
Inspection must be conducted immediately to uncover violations, says the central bank’s dispatch./.
The order was made as some commercial banks in localities have raised their interest rates on Vietnamese dong deposits to 17-18 percent a year, driving up the level of savings interest and causing instability in the deposit market.
Inspection must be conducted immediately to uncover violations, says the central bank’s dispatch./.
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