Latest News about interest rates
The year 2020 has seen a ‘bond issuance movement’. Businesses have rushed to issue shares to mobilize capital as loose requirements made it easier than ever to do this.
A number of commercial banks are going to list their shares at the HCM City Stock Exchange (HOSE), and are expected to bring a breath of fresh air to the market, which has been stagnant because of the pandemic.
The State Bank of Vietnam (SBV) on September 30 announced its decision to lower the benchmark interest rate as part of efforts to support the national economy amid difficulties posed by the COVID-19 pandemic.
The State Bank of Vietnam (SBV) has issued decisions No. 1349 and 1351 on cutting interest rates applicable to compulsory reserves deposited at the central bank by credit institutions,
Credit demand in Vietnam is expected to stay low in the foreseeable future as the Covid-19 pandemic continues to be complicated globally, said a central banker.
Vietnam needs effective changes and reforms to attract more foreign portfolio investment, Andy Ho, chief investment officer of investment fund VinaCapital, has said.
With fewer concerns about currency and external stability, Vietnam’s central bank is likely to be more comfortable with delivering interest rate cuts to support growth.
Internet users are often bombarded with attractive advertising, offering loans in five minutes, no mortgage, no lender fees and no commission.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has announced a 30 trillion VND (over $1.28 billion) credit package to support its customers to overcome difficulties amid the COVID-19 pandemic.
Banks’ nine-month financial reports show that bad debts have increased compared with the beginning of the year, though the bad debt ratio has fallen.
Several local banks have reduced their interest rates in recent days, going against the banking sector’s general year-end trend of increasing rates to boost earnings.
Some small banks in Vietnam are seeking investors from Asia such as South Korea, China and Japan.
With a positive macroeconomic background at the moment, interest rates will basically stay steady until the end of the year due to excessive liquidity and proper credit growth, according to an official from the State Bank of Vietnam.
The State Bank of Vietnam (SBV) said the official interest rates will be adjusted down as from September 16.
Real estate firms are rushing to issue corporate bonds, which analysts say shows their thirst for capital. But there are risks.