CONSUMER FINANCE MARKET SOARS
[20-05-2016] Viet Nam’s consumer loans hit a five-year record high of US$15.12 billion last year, according to a new report from local market research company StoxPlus. The amount, which was up 44 per cent against 2014, accounted for 10.4 per cent of the country’s GDP and 6.8 per cent of the economy’s total outstanding loans, the report said.
BANKS CUT LENDING INTEREST RATES ON GOV€™T ADVICE
[17-05-2016] Last week several banks cut their lending interest rates on the recommendation of the State Bank of Viet Nam. State giant Vietcombank set its rates for medium- and long-term loans at 10 per cent a year, down from 10.5 per cent.
DOLLAR SLIPS AGAINST EURO AHEAD OF US INFLATION DATA
[17-05-2016] The dollar edged down against the euro on Monday in profit taking after recent gains, as traders awaited a key US inflation report on consumer prices. NEW YORK: The dollar edged down against the euro on Monday (May 16) in profit taking after recent gains, as traders awaited a key US inflation report on consumer prices.
BANKS SLASH INTEREST RATES
[09-05-2016] Various banks have reduced their lending rates in response to the prime minister’s recent meeting with the business community. Last week, the state-owned giant Vietcombank adjusted its rates for mid- to long-term loans to 10 per cent a year, down from 10.5 per cent.
WB FINANCES TRANSPORT, FLOOD CONTROL PROJECTS
[02-05-2016] The Board of Executive Directors of the World Bank (WB) has approved a package of over US$500 million in support for improvements to road and bridge connections, flood control and hygiene conditions in Viet Nam.
BANK SECTOR URGED TO USE TPP BENEFITS
[19-04-2016] “Viet Nam will have the chance to attract more foreign investment in its banking industry,” Luong Hoang Thai, head of the Ministry of Industry and Trade's Multilateral Trade Policy Department, said.
PROPERTY CREDIT: BETTER WELL-CONTROLLED THAN TIGHTENED
[12-04-2016] Long- and medium-term credit squeeze will undoubtedly affect the verve of real estate companies. In Vietnam, long- and medium-term credit increased rapidly, reaching 29 per cent in 2015, accounting for nearly 50 per cent of total loans.
CREDIT REDIRECTED TO PRODUCTION, BUSINESS
[09-04-2017] Credit this year would be oriented to flow more into production and business instead of non-production industries as done previously, experts said. In the latest report on prospects of the banking industry released this week, analysts of Vietcombank Securities (VCBS) forecast that credit growth this year would be roughly 16 per cent, lower than the 18 per cent rate of last year, because credit would focus more on production and business.
