Chủ đề: Commercial banks

In just the first two months of 2022, individual savings deposits in banks reached VND159 trillion ($6.91 billion), higher than the VND158 trillion ($6.86 billion) recorded in 2021 as a whole. According to analysts, this “unusual” movement was mainly due to commercial banks raising their deposit interest rates. The slowdown in other investment channels, such as real estate, securities, and corporate bonds, also resulted in cash flow returning to the banking system.

Different banks cutting or raising deposit interest rates for different terms, according to Bao Viet Securities Company.

The USD/VND exchange rate has been quite high in recent days, with the State Bank of Vietnam (SBV) and market operators stopping commercial banks from receiving funds to conduct foreign exchange spot transactions. Despite the fact that no more money was injected into the system and that credit accelerated, liquidity in the banking system remained abundant. This is most evident in interest rates remaining flat at the lower end.

The State Bank of Vietnam will meet with aviation enterprises and commercial banks to discuss outstanding loans and address capital difficulties.

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said that while the central bank does not have a support package, commercial banks have committed to further reducing interest rates by a total of nearly VND20.5 trillion ($895.67 million) from now to the end of the year to support people and businesses. Four State-owned commercial banks - Vietinbank, Vietcombank, BIDV, and Agribank - have also agreed to reduce interest rates by a total of about VND1 trillion ($43.73 million).

Commercial banks have agreed with a State Bank of Vietnam policy on reducing lending interest rates by 0.5 to 2.5 per cent per annum, with the average reduction being about 1 per cent.