Vietnamplus

The race of interest rate hikes among commercial banks is showing signs of cooling down as many banks have adjusted down the rate by several percentage points per year after the Lunar New Year (Tet) holiday and have set stricter conditions for customers to enjoy the high rates.

Gains in the Thai baht are frustrating exporters and many private companies, particularly when the Purchasing Managers’ Index (PMI) remains low.

Entering 2023, investors are choosing investment channels that bring in high profitability amid the current financial market where there are many unprecedented risks.

Despite many difficulties due to increasing interest rates, the pressure on the capital market is expected to decrease gradually in 2023, experts forecast.

The global energy and food crisis, central banks’ interest rates hike to cope with inflation and the establishment of the COP27 “loss and damage” fund, were among the top 10 world economic events in 2022, as selected by the Vietnam News Agency (VNA).

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has directed banks to continually reduce input costs with an aim to cut loan interest rates.

The State Bank of Vietnam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tet).

A lot of money borrowers have been recently cheated on online lending applications which seem to ask for simple procedures at first but then claim cut-throat interest rates.

The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14% limit on December 5.

The race to lure deposits among banks is becoming fiercer as more customers are selected medium- and long-term savings to get higher interest rates.

Credit of the banking system by the end of October this year rose by 11.5% compared to the end of 2021, Bao Viet Securities Company (BVSC) said, citing data from the State Bank of Vietnam (SBV).

The Hanoi Stock Exchange (HNX) held 30 auctions of Government bonds (G-bonds) in October, with 55.66% of the total G-bonds on offer, worth 31.45 trillion VND (1.26 billion USD) sold.

Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha has said.

The Central Highlands province of Lam Dong has approved a new credit policy for start-ups owned by young people in the 2022 – 2030 period.

The State Bank of Vietnam on October 24 decided to revise up several interest rates by 1%, starting from October 25.

Viet Capital Bank has unveiled a certificate of deposit for individual and institutional customers with an interest rate of up to 8.4% depending on the tenor.

As many major central banks tightened monetary policies to contain soaring inflation, the State Bank of Vietnam (SBV) on September 22 also decided to hike its benchmark interest rate by 100 basis points, effective September 23.

As of September 16, credit grew 10.47% against the end of 2021 and 17.19% against the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

Governor of the State Bank of Vietnam Nguyen Thi Hong has issued decisions on revising up several interest rates by 1%, starting from September 23.

Despite global concerns over inflation and rising interest rates, Vietnam has emerged as a rare economic bright spot boasting healthy GDP growth and an array of opportunities.