loans

Update news loans

Low-cost capital plentiful, but borrowers keep glacial

 VietNamNet Bridge – The lending interest rates offered by many commercial banks have reduced to below the deposit interest rates. However, businesses don’t intend to borrow money at this moment.

Joint stock banks’ wound healing

 VietNamNet Bridge – The health of commercial banks is now at their best conditions, if compared with the other months of the year, according to the State Bank of Vietnam.

BUSINESS IN BRIEF 13/11

 Russia affirms its nuclear status in Vietnam; Coffee exports to Mexico fall 19%; Ad firms confront challenges; Phone handset exports up 76%; Central bank backs down on currency

Bank staff detained for Phuong Nam loans

VietNamNet Bridge – Two An Binh Bank (ABBank) officials were arrested on Wednesday for lending VND80 billion to the Phuong Nam Foodstuffs Company which accumulated VND1.6 trillion in unsecured loans.

Banks struggle to hit lending goal

 Significant challenges remain for the banking industry to reach the annual credit growth target this year, despite certain improvement in lending situation, State Bank of Viet Nam (SBV) officials said.

FIEs refuse to borrow money from Vietnamese banks

VietNamNet Bridge – Believing that foreign invested enterprises (FIEs) are the potential borrowers, Vietnamese banks cannot approach the clients.

BUSINESS IN BRIEF 30/10

 Seafood surge nets exporters $5.37b in first 10 months of 2013; Banks struggle to meet credit target; India eyes Viet Nam business partnership; SBV debt pledge fails to rally shares

Banks buy corporate bonds instead of lending to businesses

The banks’ move of pouring big money into corporate bonds, in the eyes of analysts, is a form of providing loans to businesses. Analysts have warned that it will be very difficult to settle the bad debts from the bond investments.

BUSINESS IN BRIEF 26/10

 Rising food costs bump up CPI in major cities; SBV restarts USD buy-back scheme; Auto show strikes upbeat note; Chinese firms to display produce; EU sends funding for local SMEs

BUSINESS IN BRIEF 21/10

 Undersupply hits small cashew processors; VAMC debt buyouts gain momentum; Hydropower projects getting the axe; Mobile phone export turnover hits new record high

Banks keep diffident in raising chartered capital

 VietNamNet Bridge – Commercial banks earlier this year all planned to issue shares to increase their chartered capital. However, they have made no moved so far to implement the plans.

Banks gear up to disburse trillions of dong by year-end

 VietNamNet Bridge – Commercial banks have been trying every possible means to increase the lending, as they only have three more months to obtain the targeted credit growth rate of 12 percent.

BUSINESS IN BRIEF 13/10

 Taiwan firms explore distribution opportunities in Vietnam; Rubber exports to fetch 4.5 billion USD this year; Thanh Hoa calls for more investment; Vietnam helps Laos develop coffee

BUSINESS IN BRIEF 11/10

 Steel sector struggles to escape rut; VN pledges to adopt global mining standard; Experts promote sustainable aquaculture practices; Tea industry needs to plan for the future

BUSINESS IN BRIEF 7/10

 Imported pesticides saturate VN market; HCM City property market sees revival; Exports of rice to decrease sharply; Mobile phones press towards top of export list for first time

BUSINESS IN BRIEF 5/10

 NFSC assesses Jan-Sep economic performance; Local book company among top 500 Asia-Pacific retailers; Tuna exports to ASEAN surge; Vietnam has trade surplus with Germany

The major operation succeeds at 8/9 weak banks

 VietNamNet Bridge – The compulsory restructuring of 8 out of the 9 weak banks has completed successfully.

Banks have capital in excess, but won’t slash deposit interest rates

 VietNamNet Bridge – If the inflation rate is curbed at 6.5 percent this year, the dong ceiling deposit interest rate would not go down to below 7 percent per annum as expected by businesses.

Banks keep pessimistic about business performance in 2013

 VietNamNet Bridge – More than a half of commercial banks think the bad debt ratio would be unchanged or would be increasing by the end of 2013 in comparison with the end of 2012.

BUSINESS IN BRIEF 18/7

 PetroVietnam divests on schedule; WB guarantees new Masan loan; Taiwan is top destination for Vietnam labourers abroad; M&A market boasts huge development potential