Central bank moves further to deregulate interest rates

Negotiated or market interest rates can now be charged on Vietnamese dong - denominated short-term loans at commercial banks, the State Bank of Vietnam decided on April 14, in its latest move to deregulate lending interest rates.

Saigon Bank opens asset company

The joint stock Saigon Commercial Bank (SBC) on March 22 inaugurated an asset management company it has set up to diversify its services.
State Bank lowers reserves ratios Business

State Bank lowers reserves ratios

The State Bank of Vietnam on Jan. 18 decided to reduce by up to 3 percentage points the compulsory ratios on foreign currency – the money credit institutions are required to hold in reserve.

Central bank praises foreign competitors

Foreign banks have done well in their role as a bridge between investors abroad and domestic enterprises while ensuring security ratios and effective performance, State Bank governor Nguyen Van Giau stated in a year end meeting with foreign bankers in Vietnam on December 15.

State Bank acts to ease dollar shortage

The State Bank of Vietnam will sell US dollars to credit institutions reporting shortages, in a move announced on Dec. 1 aimed at stabilising the foreign exchange market.

Credit growth slows as year ends

There will not be a surge in credit growth from now through year’s end as commercial banks are facing difficulties in mobilising capital, Deputy General Director of Lien Viet Commercial Joint Stock Bank Doan Van Thang has said.

VNPT, Intel to develop new technologies

The Vietnam Post and Telecoms Group (VNPT) and Intel Semiconductors Vietnam (Intel) will work together on the research and development of new technologies to diversify their service packages.
BIDV to provide forex services on int’l market Business

BIDV to provide forex services on int’l market

The Bank for Investment and Development of Vietnam (BIDV) will provide a series of foreign exchange services on the international market, according to a document issued by the State Bank of Vietnam (SBV) Governor.

Bank capital adequacy rules tighten

The State Bank of Vietnam on Aug 11 tightened the cap on the ratio that commercial banks and to the financial institutions may maintain between short-term deposits and medium- to long-term outstanding loans, in a new move to increase the security of the banking system.

Lending against securities up

Outstanding loans against collateral in the form of securities or real estate in the first half of the year sharply increased over last year, according to a report from the State bank of Vietnam.