Central bank pumps more money into system
HCMC – The State Bank of Vietnam (SBV) yesterday, November 3, injected some VND5,000 billion into the banking system via open market operations for a 14-day term without any withdrawals. This marked the second consecutive injection into the system, following VND15,522 billion on November 2. On the
Banks report handsome profits in Q3
HCMC – Many local banks have released their business results, which indicate huge third-quarter profits. Asia Commercial Bank (ACB) recorded a pretax profit of nearly VND4.5 trillion between July and September, surging by 71% year-on-year. VPBank put its pretax profit at over VND4.5 trillion in
Vietnam’s central bank announces 2nd interest rate hike in just one month
HCMC – The State Bank of Vietnam (SBV), the central bank of the nation, announced last night (October 24), that key interest rates would be hiked by one percentage point, with effect from today (October 25). This is the second interest rate increase in just one month. The interest rate cap for
Central bank urges compliance with forex rules
HCMC – The HCMC branch of the State Bank of Vietnam (SBV) has told local banks and foreign bank branches to strictly comply with foreign exchange regulations after the trading band of the Vietnamese dong currency was widened from 3% to 5% on either side of the central exchange rate. The central
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