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Update news deposit
Total deposits in Vietnam’s banking system up slightly to US$355.27 billion
Personal deposits saw the first decline of VND14 trillion (US$603.08 million) in July, after growing in six consecutive months.
Compulsory reserve cuts to have little effect on banks
VietNamNet Bridge - After almost a decade, the State Bank of Vietnam (SBV) is considering sharp cuts in banks’ reserve requirements applied to huge amounts of deposits.
Drinks bottles and can deposit return scheme proposed
People in England will soon have to pay a deposit when they buy drinks bottles and cans in a bid to boost recycling and cut waste.
Greek bank deposits fall to decade low
Greek bank deposits have fallen to their lowest level in more than 10 years, as concerns persist over the country's debt burden and possible exit from the euro.
Investors hold on to cash, avoid investments in gold and land
VietNamNet Bridge – Though gold prices remain unchanged and land and securities have become more valuable, the rich still prefer to keep their cash.
20-year savings worth 3 kilos of pork
VietNamNet Bridge – A Hanoian got shocked after he was told that he can receive the sum of money big enough to buy three kilos of pork after 20 years of depositing money at bank.
Only Vietnamese can deposit foreign currencies
VietNamNet Bridge – Vietnam plans to set up a new regulation under which foreign residents, not Vietnamese citizens, cannot deposit foreign currencies at the banks in Vietnam.
BUSINESS IN BRIEF 24/9
CPI jumps in both major cities; Site clearance delays West Lake urban project; Central bank initiative reduces lending rates; Buyers bemoan social housing deposits
Trying to slash lending interest rates, banks face high risks
Getting impatient about the slow credit growth, banks have been trying to boost consumer credit by offering surprisingly low interest rates, which in some cases are lower than the deposit interest rates.
Central bank to slash USD interest rate, raise confidence on VND
The State Bank of Vietnam said it will slash the deposit dollar interest rates. However, it would keep cautious steps when deciding when and how much to slash the interest rates in order to ensure the liquidity for the banking system.
Where have the deposits gone?
Commercial banks have reported the steady increase in the mobilized capital so far this year. Meanwhile, businesses keep complaining that they lack capital to maintain production and expand business scale.
Businesses try every trick to borrow capital
Unable to access bank loans, businesses have to play tricks to seek loans from other different sources.
Where’s the cash gone?
Commercial banks keep offering high interest rates to attract more deposits from the public. The business circle affirms it is thirsty for capital, while workers complain about modest Tet bonuses. Where has the cash gone, then?
