Several measures have been suggested at an online seminar held by the Government Portal on May 28 to help the corporate bond market maintain its stability and operate in line with law to aid economic growth.
The State Bank of Vietnam (SBV) is set to further reduce regulatory interest rates on May 25, the third cut in a row since mid-March, expected to give a boost to the stagnant real estate market.
Reducing interest rates, maintaining interest subsidies, hiking credit limits, and providing unsecured loans to manufacturing businesses are among the demands made by businesses in the south-eastern region to the State Bank of Vietnam (SBV).
The State Bank of Vietnam has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.
The State Bank of Vietnam’s (SBV) Ho Chi Minh City branch will continue to prioritise credit for production and business, especially in priority sectors, to boost economic recovery.
The JSC Bank for Foreign Trade of Vietnam (Vietcombank) remained the best-performing credit institution and the largest contributor to the State budget among the listed ones in 2021.
After staying at a low level last year, deposit and lending interest rates will probably increase in the second quarter of this year as credit demand is high again when the COVID-19 pandemic is controlled and the economy rebounds further, according to experts.
Credit loans must be always available for production and business enterprises, especially those operating in such areas as agriculture, export and high-tech, Prime Minister Nguyen Xuan Phuc said on December 26.
The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30 percent.
The State Bank of Vietnam has been taking measures to support economic growth, including a 0.25% cut to the ceiling interest rate, prompting many banks to lower their saving rates. Still, many people with idle money are depositing in banks.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu highly valued several banks’ interest rate cuts by an additional 2 percent annually to support businesses affected by the COVID-19 pandemic.
Right after the State Bank of Vietnam (SBV) issued Circular No. 01, many domestic businesses have enjoyed lending interest rate reductions and graces, enabling them to restore production.
In recent days, many domestic banks have lowered both deposit and lending interest rates for short-term VND loans to support businesses in the year-end months.
Domestic banks forecast that the lending interest rates would drop in line with the government’s policy to support production and business activities of enterprises.
Several local banks have reduced their interest rates in recent days, going against the banking sector’s general year-end trend of increasing rates to boost earnings.
Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Vietnam (SBV)’s agencies this week.
Business
