Vietnam Bank News

Vietnam Bank Directory

Trade ETHUSD, Bitcoin and Cryptocurrencies

BUY & SELL ETHUSD | View ETHUSD News & Updates

Buy Sell ETHUSD, 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.

Banks cut loans for shares as market drops   2008-06-01 - Reuters

Banks cut their lending for securities investment to VND9.75 trillion (US$606 million) last month, the central bank’s governor said on Friday, down 14.5 percent from the end of 2007.




Bank loans in April for securities investment accounted for only 0.78 percent of Vietnam’s outstanding loans at the end of April, State Bank of Vietnam Governor Nguyen Van Giau told a televised National Assembly session.

Loans for securities investment totaled VND11.4 trillion in December 2007, or 1.37 percent of total bank loans, according to central bank figures.

Fitch Ratings said on Thursday that Vietnamese banks face challenges from sharply higher interest rates and tightening liquidity, especially those which lent imprudently to property developers and stock market investors.

The Ho Chi Minh Stock Exchange, which has fallen every trading session this month, lost 1.52 percent on Friday to close at 414.10 points.

The market has lost 55.3 percent so far this year after a gain of 23 percent in all of 2007 when investors poured in, attracted by Vietnam’s potential as the newest member of the World Trade Organization and its 8 percent annual GDP growth.

Other Banking News

Little impact from ‘technical error’   2008-06-01

Bank warns of looming dong dilemma   2008-05-30

Snafu halts HCMC stock exchange   2008-05-28

Vietnam banks more cautious, HSBC country head says   2008-05-27

Bank Directory

ANZ named best retail bank in Vietnam   2008-05-27

Banks, borrowers struggle with tighter credit   2008-05-27

Banks set up shared ATM service   2008-05-25

HSBC links ATM networks with Vietnamese bank   2008-05-23

Restrain credit growth, but do it step by step: WB   2008-05-23

HSBC links ATM networks with Vietnamese bank   2008-05-23

Central bank set to rely more on higher interest rates: Goldman   2008-05-21

Nothing seems to be able to stop the slide   2008-05-21

High interest rates may make banks ‘unprofitable’   2008-05-21

Capital jumping from stock market to banks   2008-05-21