Commercial banks told to send weekly reports on interest rates
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, has written to commercial banks ordering them to report on interest rate movements on a weekly basis. The SBV said banks would have to send reports on deposit and lending rates to the Monetary Policy Department prior to 11 a.m.
PM calls for measures to stabilize volatile bond market
HCMC – Prime Minister Pham Minh Chinh has signed an official dispatch ordering the Ministry of Finance to take prompt action to stabilize the volatile corporate bond market. The market for corporate bonds, especially those issued via private placement, is in a crisis and there seems to be no way
Central bank revises up credit growth limit
HCMC – The State Bank of Vietnam (SBV) decided last night (December 5) to increase the credit growth limit for this year by 1.5 to 2.0 percentage points, reversing its persistent stance on loan growth. With inflationary pressure on its mind, the SBV, the country’s central bank, earlier affirmed
HoREA asks for credit expansion by year-end
HCMC – The HCMC Real Estate Association (HoREA) has written to the prime minister and the State Bank of Vietnam proposing a national credit growth expansion of 1%, equal to VND100 trillion. In its letters, HoREA said it is time that the central bank raised the credit growth limit, as businesses
Ministry of Finance orders bond issuers to pay off debt
HCMC – The Ministry of Finance (MOF) has written to debt-issuing organizations, ordering them to cough up the principal and interest of their bonds and to closely follow regulations on bond issues. To ensure investors’ legitimate rights, the ministry said that bond issuers would have to work with
F88 secures US$60 million loan
HCMC – Personal financial service provider F88 has secured a loan worth US$60 million, or nearly VND1.5 trillion, from two international financial organizations. Of the total, US$50 million is borrowed from CLSA Capital Partners via Lending Ark Asia Secured Private Debt Funds, and the balance from
Banks offer high rates to attract demand savings
HCMC – With the ratio of current account, savings account (CASA) having dropped sharply in the last nine months, many banks have raised interest rates for demand savings and deposits to attract more cash since the State Bank of Vietnam (SBV) recently hiked key interest rates. The CASA ratio is
HSBC helps Masan Group access US$600-million loan facility
HCMC – HSBC Vietnam has worked with several other banks to provide Masan Group Corporation, or Masan, and the Sherpa Company Limited, a subsidiary of Masan, with a US$600-million syndicated term loan to facilitate their investment. The loan aims to support Masan’s strategic long-term objectives
Banks trim corporate bond holdings
HCMC – Commercial banks have reduced their holdings of corporate bonds amid a bleak bond market outlook and credit crunch. Techcombank, one of the biggest holders of corporate bonds, has cut its holdings by 12% over the previous quarter to VND43,500 billion, a steep fall of 43.3% compared to
Lenders told to meet fuel importers’ credit needs
HCMC – The central bank governor has written to commercial banks urging them to give fuel companies priority access to new loans. In an official dispatch sent to bankers, the State Bank of Vietnam (SBV) stated that fuel is a strategic commodity, so it plays an important role in macroeconomic
Savings rate hikes ease
HCMC – Commercial banks have been in a race to hike savings rates to attract clients, especially since the State Bank of Vietnam’s two recent interest rate increases. But savings rates have fallen below 10%-11% which were briefly reached. A report from the Analysis Center at SSI Research showed
G-bond coupons rise again
HCMC – Coupons of 10-year and 15-year Government bonds have risen 100 and 80 basis points to 4% and 4.1% annually in both primary and secondary markets, respectively. Data from the Hanoi Stock Exchange showed that 30 lots of G-bonds were auctioned in the primary market in October. Of the total, 10