Deposit rates drop further
HCMC – Commercial banks have lowered their deposit rates further since the State Bank of Vietnam’s latest rate cuts came into effect yesterday, April 3. Vietnam’s big four state-owned commercial banks now quote their call deposit rates at 0.1% to 0.3% per year. Interest rates for deposits from one
Some key interest rates fall further early next week
HCMC – The State Bank of Vietnam, the central bank, announced five separate decisions today, March 31, to further lower some key interest rates, with effect from April 3. This is the second round of rate cuts in March. The SBV said the forthcoming rate reductions were part of the efforts of the
Foreign ownership at local banks may rise to 49%
HCMC – The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership cap at some commercial banks from 30% to 49%. The Governor of the SBV, the nation’s central bank, has sought the Government’s approval to amend Decree No. 01/2014/ND-CP on foreign investors’ maximum cap in
Foreign ownership at some local banks may rise to 49%
HCMC – The State Bank of Vietnam (SBV) has proposed increasing the foreign ownership cap at some commercial banks from 30% to 49%. The Governor of the SBV, the nation’s central bank, has sought the Government’s approval to amend Decree No. 01/2014/ND-CP on foreign investors’ maximum cap in
SBV tightens control on corporate bond acquisitions by banks
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, is taking steps to tighten control on commercial banks’ acquisitions of corporate bonds. The move comes after HCMC government officials asked the central bank to strengthen the monitoring of corporate bond purchases by commercial
Real estate firms resume issuing bonds
HCMC – Real estate businesses have issued nearly VND12 trillion worth of corporate bonds since Government Decree 08 came into effect on March 6. The decree enables corporate bond issuers to extend coupon payments by up to two years and swap debt for assets provided that they secure prior approval
Govt sells VND36.6 trillion bonds in February
HCMC – The Vietnam State Treasury (VST) has raised nearly VND36.6 trillion from the auctions of 12 lots of G-bonds in February, showed data from the Hanoi Stock Exchange. Most of the bonds come with terms of 10 and 15 years, accounting for 52.19% and 45.21% of the total bond sales, respectively.
Four state-owned banks cut deposit rates
HCMC – Vietnam’s big four state-owned commercial banks today, March 15, lowered their 12-month-term deposit interest rate by 20 basis points to 7.2%, just a day after the central bank decided to lower key interest rates. The four banks are the Vietnam Joint Stock Commercial Bank for Industry and
Vietnam’s central bank cuts interest rates
HCMC – The State Bank of Vietnam (SBV) made two separate decisions today to lower interest rates by 0.5 to one percentage point, with effect from tomorrow, March 15. Under the SBV’s Decision 313/QD-NHNN, the rediscount rate will be down from 4.5% to 3.5% per year. For overnight loans in interbank
Central bank inspect 11 banks
HCMC – The State Bank of Vietnam, the country’s central bank, has taken punitive measures against several of 11 commercial banks that have been inspected over matters related to investments in corporate bonds, the Vietnam News Agency reported. The central bank has conducted snap inspections into
VND17.7 trillion in corporate bonds to fall due this month
HCMC – The amount of corporate bonds falling due in March is VND17.7 trillion, triple the figure in the previous month, showed data from the Vietnam Bond Market Association. Of the total, the real estate sector accounted for 43%, at nearly VND7.7 trillion, the consumer goods sector 29% at VND5.1
Bond issuers allowed to extend coupon payments
HCMC – Debt-issuing organizations can extend coupon payments by up to two years and settle debt by assets, instead of cash, if they secure approval from bondholders, according to a new Government decree. Government Decree 08 was issued on March 5 to revise and supplement some regulations on