PM asks SBV to lower loan interest rates
HCMC – Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV), the nation’s central bank, to slash interest rates, make loans more accessible and focus on lending to key economic sectors. This was done at the regular Government meeting held yesterday when PM Chim emphasized the
SBV sets new credit growth limits for banks
HCMC – Eight commercial banks have received new credit growth quotas for this year, with seven of them entitled to lend less than last year. The credit growth limit of HDBank is 11%, MB Bank 9%, ACB 9.8%, VIB 9.5%, TP Bank 9.1%, VPBank 9%, BIDV 8.3% and MSB 13.5%. These rates are lower than the […]
PM wants rumors of banks selling debts checked
HCMC – Prime Minister Pham Minh Chinh has written to the central bank governor asking her to verify rumors of commercial banks selling debts and secured assets. Earlier, the Government Office had informed the PM of news reports that commercial banks were trying to sell and auction debts and
Interbank interest rates rise
HCMC – Vietnam’s interbank interest rates have edged up further due to the central bank’s net cash withdrawals from the banking system. The interbank rates for all tenors have risen, with the overnight rate increasing by 1.4 percentage points to 6%, according to a recent market report by SSI
HCMC to hold meeting between banks and businesses this month
HCMC – A conference connecting commercial banks and HCMC-based businesses is slated for February 28, said an official of the HCMC Branch of the State Bank of Vietnam (SBV). The conference is intended to find ways to facilitate access to credit, help businesses overcome hardships and spur the
Ministry wants borrowing conditions eased for soft loan package
HCMC – The Ministry of Planning and Investment has asked the central bank to ease borrowing conditions, streamline paperwork and help businesses cut borrowing costs by revising relevant regulations. The proposal was made during a government meeting held on February 21 to find ways to remove
VCCI says rules needed for setting credit growth quotas
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed policymakers provide regulations for the setting of credit growth quotas. Article 59 of the 2010 law on the State Bank of Vietnam (SBV) states that depending on the nature and degree of risks, the SBV can decide on a certain
Central bank withdraws money from market ahead of Fed meet
HCMC – Vietnam’s central bank net withdrew over VND30 trillion from the market last week as the banking system saw surplus liquidity due to slow credit growth. It issued 7-day and 91-day treasury bills totaling VND107 trillion, with the 7-day term accounting for much of the amount, at VND87
More bond issuers face debt repayment woes
HCMC – Many bond issuing companies are having difficulty settling debt as poor business conditions, tough access to credit and difficulties in raising funds from the stock market have heavily affected their cash flows. Hung Thinh Incons JSC called for a delay in paying principal and interest for a
Derivatives trade plummets in January
HCMC – The derivatives market remained gloomy in January, with the VN30 index futures contract trading volume and value slipping. Though the VN30 index registered 1,125.07 points in January, up 11.3% against December 2022, the average trading value of the VN30 index futures slid nearly 34% over
SBV says it does not restrict real estate loans
HCMC – Vietnam’s central bank has said it has no policy to restrict commercial banks from lending to the real estate sector. Deputy Governor of the State Bank of Vietnam Dao Minh Tu said at a meeting yesterday between the SBV and real estate firms that just some segments of the housing market had
January sees no corporate bonds issued
HCMC – The corporate bond market remained bleak last month, with no single bond issued, according to the Vietnam Bond Market Association (VBMA). Data from the VBMA showed corporate bond sales plunged to zero in the first month of the new year. The bond issues which businesses announced in January