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Tag Archive for ‘Interest rate’

Vietnam real estate market: magnet for foreign investors

Property investors in Vietnam have been scaling up their business, while more and more new investors have concluded M&A deals in the real estate sector. A Q2 market report released by Savills Vietnam showed that many foreign investment funds have spent big money to acquire land plots in advantageous positions to develop high-end projects. M&A […]

VND expected to see end-of-2017 dip

The Vietnam dong is expected to depreciate by two percentage points at the end of 2017, ending a period of stability that lasted throughout the year. Since the start of this year, the USD/VND exchange rate remained relatively stable, hovering around VND22,700 to the dollar. However, this period of calm is likely to end soon, […]

Vietnam lawmakers debate ways to reinvigorate economy

HA NOI (VNS)– Questions about how to provide businesses with access to loans, settle bad debts, manage the gold market and ensure dam safety fueled a heated question and answer session yesterday between National Assembly deputies and Government officials. Answering a question about the gap between world and domestic gold prices, State Bank of Viet Nam governor Nguyen Van Binh said that when the domestic gold price went up, the government in the past had to import gold to stabilize the market, which could negatively affect foreign currency reserves. He said the government had…

Vietnam Banks Poised To Lend More As Year-End Approaches

HCM CITY (VNS) — Commercial banks in HCM City are preparing large volumes of capital to meet the demand for loans in the last few months of the year. To attract customers, the banks are offering flexible lending policies and low interest rates. Nguyen Hoang Minh, deputy director of the State Bank of Viet Nam’s branch in HCM City, said that in the first 10 months of the year, banks had a credit growth rate of only 2.2 per cent from the end of 2011. Credit growth rate is expected to reach 5 – 6 per…

Sacombank, JCB launch card for car owners

Saigon Thuong Tin Commercial Bank, or Sacombank, and JCB International Co. Ltd. last Saturday announced the launch of Sacombank-JCB Car Card focusing on car owners as customers. The product is designed for customers with minimum income of VND5 million a month and their automobiles are worth from VND300 million and not over five years old […]

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 […]

Vietnams Initial Success In Macroeconomic Stabilization

Vietnam has achieved a degree of macroeconomic stabilization,but ANZ warns the shift to a banking system viable over the long term will still take time and continue to impact growth prospects. * Commercial banks start to loosen purse strings * Bad debts are falling, says central bank * New regulations place restrictions on bank listings […]

ABBank cooperates with Sai Gon Ford

From November 5, 2012 to February 5, 2013, An Binh Commercial Joint Stock Bank (ABBank) would cooperate with Saigon Ford Ltd Co (Saigon Ford) to run a preferential programme for customers who have demand for car purchase at SaiGon Ford. Accordingly, customers would now be able to own luxury Ford cars with the funding support […]

Stubborn Lending Rates In Vietnam

Enterprises still want lower lending rates, but banks have little room to manoeuvre because of the need to control inflation…. Based on State Bank figures, the loans lent at the rate of 15 per cent comprise 90 per cent of total outstanding loans until now, and the credit growth in the first 10 months this year is 3.3 per cent against the end of 2011. Although 15 per cent is still a high capital cost for enterprises, some experts claim the State Bank should not loosen the monetary policies further. According to Le Xuan Nghia, former vice chair of the National Financial Supervisory Committee, the pressure…

Tan Hoang Minh Ahead With Project Amid Gloom

Despite grim times in the real estate market, Tan Hoang Minh Group is planning to start three luxury projects in in Hanoi next year. The projects include The D’ San Raffles, located on Hang Bai street, Hai Ba Trung district Do Anh Dung, chairman cum general director of Tan Hoanh Minh, said the three projects […]