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Tag Archive for ‘Bonds’

VIetnam Deposit Rates Cool Down

The act of breaking the deposit rate cap has not ended, but deposits rate at many banks have slightly declined against October. In October, tellers at a large joint-stock commercial banks in HCMC offered depositors interest rates of over 12% per year for deposits of VND1 billion or above. On Monday, the rates fell to […]

Vietnam’s Money Market: Stable But Worrisome

Unlike the same period of the previous year, this year, money market is quite stable. Commercial banks are merely showing signs of dong interest rate race. Meanwhile, in some banks, signals of interest declining are becoming clearer. Long term deposit rate (more than 12 month term) of many banks got reduced by 0.5-1 October Less […]

VDB Sells VND500Bln Government-Backed Bonds Last Week

The Vietnam Development Bank (VDB) sold VND500 billion worth of government-backed bonds, or 25% of the offered value at the yield of 10.5-10.6% p.a. in an auction last week. Fixing for 2-year government bonds was 10.5% while that for 3-year tenor was 10.6%, rising 0.5% from the previous auctions. Fixings…

EVN issues bonds to repay for debts

As announced by the government office, Electricity of Vietnam Group (EVN) will have two plans of issuing bonds which will need to be finished soon in the near future. Accordingly, the first is to issue corporate bonds worth 10 trillion dong and the second is to issue bonds to repay for its debts for electricity […]

Need to urgently establish asset management company under SBV to tackle Vietnam’s bad debts

When bad debt threatens the safety of the banking system and the stability of the macro economy, the bad debt settlement needs to have the intervention of the government, even using the state budget or internal or external loans. Seeing that bad debt of banking industry is caused by various reasons and that it reflects […]

Handling bad debts in Vietnam at national level

The story of setting up a State Debt Trading Company (AMC-Asset management Company) has been mentioned by many economists, especially after the social-economic situation 2012 and plan for 2013 being discussed by the Congress At the moment, every commercial bank owns a debt trading company to handle its own bad debt. At the national level, […]

China wealth fund eyes Asia "as Western protectionism rises"

BEIJING – China’s sovereign wealth fund will focus more of its US$482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said. The man charged with stewardship of a slice of the world’s largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy…

Vietnam’s Banking System Health Declining

HCMC – The State Bank of Vietnam (SBV) has unveiled a number of basic indicators of the banking sector, which show the health of the banking system had weakened by end-September, reflecting the decline of the economy. As of September 30, the total assets of the system had fallen by 1.89% compared to end-2011. In […]

Vietnam to push back, scale down wage raise to save budget

The basic salary in Vietnam will be increased by VND100,000 in July next year Vietnamese legislators have approved a government’s plan to delay the annual salary raise for next year by two months and scale down the increase in an effort to avoid straining an already stretched state budget. The basic salary, which is used to calculate the actual income for state employees and retirees, will be increased by VND100,000 (US$4.8) beginning July 2013, news website VnExpress reported Saturday, citing a budget plan for next year passed by 90 percent of the National Assembly the same day. The salary was originally…

About 3tr dong worth of Vietnam G-bond raised successfully last week

The bond report of Bao Viet Securities Joint Stock Co (BVSC) in week between October 29 and November 2 said that in week, there were two tenders of government-backed bond issued by Vietnam Bank for Social Policies (VBSP) and the State Treasury with a total offered volume of 4.5 trillion dong. The State Treasury raised […]