Từ khóa: #commercial banks

Given the challenging economic environment, the performance of numerous banks is rather bleak, particularly due to the mounting bad debt levels.

After the State Bank of Vietnam (SBV) reduced the benchmark interest rate by an additional 0.5 percent, effective from May 25, many commercial banks have started lowering their lending rates.

As Vietnamese young people are increasingly borrowing more money to buy consumer goods, consumer credit is considered to have a lot of potential.

In the past week, deposit interest rates at many commercial banks continued to decrease.

At a time when foreign capital inflow had begun to show signs of slowing, domestic capital inflow has returned once again.

 Innovative start-ups often have high risk and most start-ups don’t succeed. To promote innovative start-ups, the government necessarily creates favorable conditions for enterprises to enter the market.

State Bank of Vietnam Deputy Governor Dao Minh Tu said that the central bank will issue a document relating to a credit package of VND 120,000 billion for social housing and worker housing at the beginning of April 2023.

According to some experts, commercial banks are holding 71 percent of corporate bonds issued by real estate companies.

Since the beginning of March 2023, commercial banks have reduced deposit interest rates which have been contrary to forecasts made by many domestic and foreign investment organizations. 

Commercial banks have agreed to lower deposit interest rates by about 0.5 percent starting from March 6, while State-owned banks will only reduce their rates by 0.2 percent because they are already at the lowest level in the market.

According to the State Bank (SBV)’s, the loan amount from the 2-percent interest rate support package reached nearly VND30 trillion (US$1,268,366) and the amount of interest rate support neared VND78 billion by the end of November 2022.

High lending interest rates will challenge the target of controlling inflation as well as production and business activities.

The State Bank of Vietnam set the daily reference exchange rate at VND/US$23,606 on February 3, down VND2 from the previous day.

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND/US$23,643 on December 20, down VND2 from the previous day.

Currently, 16 commercial banks have guaranteed to reduce the interest rate for loans from 0.5 percent point to three percent per year with a total amount of around VND3,500 billion (US$148 million) to support enterprises. 

The State Bank of Vietnam (SBV), on December 15, announced the US dollar buying price at VND23,450 per dollar after not listing the buying price for about three months. It shows that the SBV has started to buy foreign currencies for intervention and inject the Vietnamese dong into the market because foreign currency liquidity has become less tense.

From the beginning of 2023, commercial banks will increase the interest rate from 4.8 percent a year to five percent per year applying for loans used for purchasing, and leasing social housing projects and commercial ones having an area of under 70 square meters and VND15 million (US$634) per square meter following a new decision of State Bank.

The US dollar selling prices at commercial banks in the morning fell below VND24,000 per dollar although the reference exchange rate of the State Bank of Vietnam increased for a second consecutive session.