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Prime rate continues going down   2008-11-20 - VNA

The Governor of the State Bank of Vietnam (SBV) on Nov. 20 decided to cut the prime interest rate in Vietnamese dong by 1 percent to 11 percent per year as from Nov. 21.

 
The decision will also slash the maximum lending interest rate of credit institutions from 18 percent to 16.5 percent.

The same day, the central bank decided to reduce the refinancing interest rate from 13 percent to 12 percent and the re-discount rate from 11 percent to 10 percent.

Overnight lending interest rate on the inter-bank market is down to 12 percent from 13 percent per year at present.

In another move, the SBV decided to decrease the compulsory reserves in Vietnamese dong for credit institutions by 2 percent.


Other Banking News

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Interest rates down, banks in a dilemma   2008-11-19

Banks considering collecting ATM fees, again   2008-11-18

Banks lower rates, but can firms qualify for loans?   2008-11-16

Expanding branches financially burdening banks   2008-11-14

Royal Bank of Scotland completes rebranding of ABN AMRO   2008-11-12

ANZ won’t sell STBs   2008-11-10

HSBC explains foreigners’ net sales   2008-11-10

ANZ won’t sell STBs   2008-11-10

Central bank widens forex trading band to 3 percent   2008-11-07

Japanese bank to open second branch in Vietnam   2008-11-07

Banks bringing capital to rural areas, but indecisively   2008-11-07

Deposit interest rates to fall to 12%?   2008-11-07

Central bank chief expects banks to lend more   2008-11-07