Home Finance

Vietnam to cut dong deposit ceiling to 9 pct

Jun 2nd at 13:29
02-06-2012 13:29:39+07:00

Vietnam to cut dong deposit ceiling to 9 pct

Vietnam’s central bank may cut the ceiling rate on dong deposits by 2 percentage points to 9 percent later this year to help boost lending to facilitate economic growth, a state-run newspaper said on Friday.

he downward adjustment would be the last in 2012, the central bank was quoted by the ruling Communist Party-run Nhan Dan (People) daily as telling bankers at a meeting on Thursday.

The central bank has cut the ceiling rate on dong deposits three times so far this year, having lowered the highest rate banks could pay depositors to 11 percent after inflation had eased. The latest move had been in effect since Monday.

Reuters

MOST READ

NEWS SAME CATEGORY

Vietnam too hasty to cut down interest rates?
FINANCE Jun 2nd at 13:08

Vietnam too hasty to cut down interest rates?

While foreign institutions have warned that Vietnam has slashed interest rates too sharply, Vietnamese economists believe that the interest rates should be eased...

Techcombank allowed to open Ha Thanh branch
FINANCE Jun 1st at 13:53

Techcombank allowed to open Ha Thanh branch

The State Bank of Vietnam (SBV) issued Documents No. 3195 /NHNN-TTGSNH on May 30 to allow the Vietnam Technological and Commercial Joint- Stock Bank (Techcombank)...

Personal loans rise amid rate cap slump
FINANCE Jun 1st at 13:26

Personal loans rise amid rate cap slump

Banks are offering lower interest rates on personal loans as interest-rate caps have fallen to 11 per cent.

Eximbank lends $100 mln to Vietnam Air for Airbus planes
FINANCE May 31st at 17:29

Eximbank lends $100 mln to Vietnam Air for Airbus planes

Vietnam's Eximbank has signed a credit agreement to lend $100 million to national carrier Vietnam Airlines to help it purchase four Airbus Industries passenger jets...

SBV hurries banks to slash interest rates, but banks keep going slowly
FINANCE May 31st at 13:28

SBV hurries banks to slash interest rates, but banks keep going slowly

While the central bank makes every effort to ease the lending interest rates as soon as possible to rescue the enterprises thirsty for capital, commercial banks...

Banks need time to adjust to new lending rate cap
FINANCE May 31st at 13:22

Banks need time to adjust to new lending rate cap

Despite the deposit and lending rate caps having dropped to 11% and 14% respectively, banking experts said lending rates remain prohibitively high for local...

BIDV, VIETPAY launch e-payment service
FINANCE May 31st at 13:17

BIDV, VIETPAY launch e-payment service

Bank for Investment and Development of Vietnam (BIDV) and Vietnam Electronic Payment Joint Stock Company (VIETPAY) will launch VIETPAY e-payment service at BIDV’s...

Banks won't lend on goods
FINANCE May 31st at 13:11

Banks won't lend on goods

According to a State Bank of Viet Nam regulation, enterprises have been allowed to mortgage their goods to borrow capital from banks, but most bankers have not been...

Online payments for UnionPay cards accepted in Vietnam
FINANCE May 30th at 20:35

Online payments for UnionPay cards accepted in Vietnam

UnionPay card and OnePAY JSC have successfully applied technical solutions to enable online payments for UnionPay cards in Vietnam. This is the fifth card which can...

Vietnam central bank urged to stimulate cash flow
FINANCE May 30th at 13:09

Vietnam central bank urged to stimulate cash flow

The State Bank of Vietnam (SBV), the country's central bank is asked to gradually cut interest rates, handle bad debts, help enterprises reduce inventories and...

Read More

Bank stocks

Insurance stocks

MOST READ

Back To Top