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 Vietnammarkets.com. 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 hike deposit rates to meet loan demand   2008-01-23 - Reuters

Banks have been offering higher interest rates on dong deposits in the past two weeks to meet soaring demand for corporate and consumer loans ahead of Tet, bankers said Monday.

 
 
   

“Demand for the dong, especially from the consumer finance and corporate sectors, will continue to be very strong for the next three weeks,” a Hanoi-based banker said, referring to the traditional Lunar New Year which begins February 7.

Another banker in Hanoi said loan demand from car buyers was particularly robust as many consumers buy or upgrade cars ahead of the New Year.

Last year total car sales nearly doubled to more than 80,000 units.

The property boom in big cities like Hanoi and Ho Chi Minh City also contributed to the rise in loan and mortgage demand, bankers said.

An official from Hanoi-based Military Bank said the bank had raised annual rates on its 12-month deposits to 9.24 percent from around 9 percent previously.

HCMC-based Dong A Bank also raised its 12-month rate to 9.48 percent earlier this month while An Binh Bank offered 9.3 percent.

State-controlled banks, including Vietcombank and Vietindebank, however, maintained the rate at a steady 8.28 percent.

Bankers also said the central bank’s move to raise the level of compulsory reserves banks must keep against their deposits in both dollar and dong from next month had forced them to raise rates to get more funds available for lending.

From February, banks must keep the reserves at 11 percent of their dong and dollar deposits of up to 12 months, up from 10 percent now.


Other Banking News

Banks Eyeing Real Estate Instead of Stock Market   2008-01-23

OceanBank to raise charter capital   2008-01-23

All Agribank affiliates to go public in 2008   2008-01-22

State Bank mulls lifting controversial lending cap   2008-01-22

Sacombank funds EVN power plan   2008-01-21

SBV calls for revamp of credit institutions   2008-01-18

STB - Sacombank executive sells 1 mln shares   2008-01-03

STB - ANZ buys shares in Sacombank   2008-01-03

ACB - Asia Commercial Bank lists 10 mln shares   2007-12-26

ACB - Asia Commercial Bank to issue convertible bonds   2007-12-21

ACB - Asia Commercial Bank details new share, bond issue   2007-11-28

STB - Sacombank Executive to sell 1 million shares   2007-11-12

STB - BenTre firm to buy Sacombank shares   2007-11-01

IVB - Indovinabank joins Vietcombank’s card   2007-10-20