Hundreds of Millions Vanish from Bank Accounts in Hanoi
Customers of the Vietnam Maritime Bank's Thanh Xuan branch in Hanoi were shocked earlier this year to discover that over 338 billion dong (approximately 15 million USD) had disappeared from their savings accounts overnight. The incident has attracted significant public attention and raised
USD Exchange Rate Today Feb 20, 2024: Banks Uniformly Increase Rates
On the morning of February 20th, 2024, Vietnam's state bank SBV announced the reference exchange rate between the VND and USD increased by 9 dong to 23,988 dong. Exchange rates at commercial banks also saw uniform increases across the board.
Vietnam's GDP grows 5.05%, among the high group, economic scale reaches 430 billion USD
On January 5, the Government held a meeting to summarize the work in 2023 and implement tasks for 2024 between the Government and local administrations. Speaking at the opening of the meeting, Prime Minister Pham Minh Chinh affirmed that in general, the socio-economic situation in 2023 continued
Very quickly, the State Bank cut interest rates by 150 basis points
Responding quickly and operating flexibly, the State Bank has reduced interest rates four times in a row, a total of 150 basis points in the first six months of 2023.
Forecasting the highlights of the banking industry in the last months of 2023
According to KBSV, good credit recovery will impulse the net interest income. In addition, NIM and non-performing loan ( NPL ) control of the banking industry are expected to become more positive in the year-end period.
Capital flows may leave Vietnam when the State Bank's 'magic wand' stops working
Speaking at the conference "Southern real estate embracing infrastructure development opportunities" organized by CafeLand, Dr. Nguyen Tri Hieu said that Vietnamese real estate has not yet seen "the light at the end of the tunnel".
Over 20 banks lower deposit rates
HCMC – Over 20 banks have cut deposit interest rates, with the highest rate now set at 8.5% per year. The rate cuts followed the recent State Bank of Vietnam’s (SBV) interest rate reductions. Deposit interest rates are down by 0.5 percentage point for the tenor of less than six months. Meanwhile,
Bright outlook amid monetary easing
Monetary policy is gradually shifting from tightening to easing again. Following the two interest rate cuts in late March, the central bank has signaled another rate reduction is coming. Money goes around flexibly Contrary to former concerns, the stock market was undergoing fairly positive
Central bank cuts interest rates further in easing cycle
HCMC – The State Bank of Vietnam (SBV) has announced two separate decisions further lowering key interest rates, with effect from Thursday, May 25. This is the third rate reduction since March in the central bank’s monetary easing cycle aimed at boosting slackening economic activity and
Chances from businesses with strong profit growth
Most enterprises have reported their profits for the first quarter of 2023. Besides those suffering a sharp decline as predicted, there are still businesses with unexpectedly strong growth, making their valuations attractive. Looking for opportunities The stock market staged a major rally on May
Deposit rates fall further
HCMC – Following the central bank’s interest rate cuts in April, commercial banks have lowered deposit rates further this month. Annual deposit rates now range from 7% to 9% at most banks, 1-1.7 percentage points lower than late last year. Kienlongbank now applies a 7% yearly rate to nine-month
Major banks lower deposit interest rates
HCMC – Deposit interest rates at many major banks in Vietnam have been lowered by 0.1 to 1.1 percentage points compared to those in early May, making it possible to offer lower lending rates, according to the local media. Vietcombank has recently lowered its deposit rates for tenors of one to two,