Vietnam Bank News

Vietnam Bank Directory

Trade LTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL LTCUSD | View LTCUSD News & Updates

Buy Sell LTCUSD, Bitcoin and Cryptocurrencies

Banking News & Financial Services News
Get the latest banking news headlines from Find in-depth Vietnam coverage from banking, investing, financial, stock market, and more abou Vietnam banking system, bank for industry and trade, Vietnam banking sector.

Bonds fall, dong gains on increase in bank deposit rates   2009-05-07 - VietNamNet/TN

Five-year bonds declined on speculation that investors will put their money in banks following the recent hike in interest rates on dong deposits. The dong gained. 


“Interest rates on deposits have been increased to as much as 9 percent, and that’s pushed yields up,” said Vu Anh Duc, a bond dealer at Hanoi-based Vietnam Bank for Industry and Trade, known as VietinBank.


The yield on the five-year note rose 0.05 percent to 9.1 percent, according to a daily fixing price from 10 banks compiled by Bloomberg.


The dong strengthened 0.06 percent to 17,773 against the dollar as of 4 p.m. local time, according to data compiled by Bloomberg.


Banks have hiked the interest rates to mobilize funds needed to lend under the government’s economic package. The government is putting in place as much as US$8 billion tied to measures to boost the economy, Prime Minister Nguyen Tan Dung told investors in Hong Kong on April 20.


“Many people are concerned that inflation will return in the second quarter, since the economy is showing signs of recovery,” VietinBank’s Duc said. Concerns about quickening inflation may push yields higher, he said.


The State Bank of Vietnam fixed the reference rate for the dong at 16,938 Tuesday, compared with 16,939 Monday, the bank’s website showed. The currency is allowed to trade 5 percent on either side of the set rate.

Other Banking News

Vietcombank plans rights issue for small shareholders only   2009-05-07

Commercial banks rushing to push interest rates over 9%   2009-05-05

Banks hike interest on dong deposits to raise funds   2009-05-05

Consumer credit: Lenders and borrowers the proverbial two ships   2009-05-03

Bank Directory

Commercial banks need deposit capital   2009-05-02

Vietcombank set to list by September   2009-04-29

Vietnam cuts rate on export credit to 2.9 percent   2009-04-28

Vietcombank becomes partner of Foreign Investment Agency   2009-04-23

Eximbank to raise capital to VND8.8 trillion this year   2009-04-21

Banks set low business targets to ease pressure   2009-04-21

Central bank mulls barring cross-bank shareholdings   2009-04-21

HCMC banks promote lending against shares as market rises   2009-04-16

Commercial banks do well despite criris   2009-04-14

Banking expo eyes risk management   2009-04-13