Banking - Finance - VietNam News

Constipated credit flows stunt enterprises

Improving credit flows between banks and enterprises was important at a time when bad debts remained uncleared and businesses were struggling, a seminar in Ha Noi heard yesterday.

Moody's rating for VietinBank ‘stable'

Moody's Investors Service yesterday affirmed the debt and deposit ratings of the Viet Nam Bank for Industry and Trade (VietinBank) as B2 in local currency and B3 in foreign currency. The outlook on the bank's ratings is stable.

VietinBanksells 20% stake to Bank of Tokyo

Viet Nam Industry and Trade Joint Stock Bank (VietinBank) has finished selling nearly 20 per cent of its shares to Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU).

Coffee to get preferential credit loans

The coffee industry would receive preferential credit loans of VND8-10 trillion (US$380.95-476.19 million) from now until 2016 to implement a programme to recultivate old coffee crops, said Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh.

Lending over 4 months up 2.1%

The outstanding loans given by commercial banks have increased 2.11 per cent since December, according to the State Bank of Viet Nam (SBV).

Banking sector needs to embrace IT innovation

IT was becoming more and more important to the financial security and operational efficiency of banking services, State Bank of Viet Nam (SBV) Governor Nguyen Van Binh said at a banking technology conference in Ha Noi yesterday.

State Bank decides to cut management interest rates

The State Bank of Viet Nam (SBV) has decided to cut interest rates used as management tools by 1 percentage point. The change, Deputy Governor Nguyen Dong Tien said, would take effect next Monday.

Bank merger talks continue

A possible merger between HCM City Development Bank and DaiABank revealed two weeks ago was ignored at DaiABank's annual shareholder meeting yesterday.

PM Dung approves programme to cut public debt by 2015

The Prime Minister approved a medium-term debt management programme for the 2013-15 period.The programme aims to lower public debt to less than 65 per cent of GDP by 2015, of which Govern-ment loans and foreign debts cannot account for more than half.

Deposit interest rates vary between domestic banks

Interest rates haven't shown significant changes since Vietcombank's rate cuts, but they have revealed the sharper rate difference among the banks.

Vietcombank slashes interest on deposits

Vietcombank early this week cut its monthly deposit interest rate for the dong to 6 per cent, 1.5 per cent lower than the ceiling rate stipulated by the State Bank of Viet Nam.

Hightlight

Tax code reforms to decipher dependents

People who are dependent on personal income tax payers will be given their own tax codes to avoid people lodging claims as dependents of more than one taxpayer.

Farmer-firm linkups remain elusive despite Gov't efforts

More than 10 years after the Government unveiled policies to encourage tie-ups between farmers and businesses, the proportion of farm produce sold through such contracts remains modest.

Buddha statues highlight heritage

An exhibition of Buddhist artefacts from the 11th to 20th century opened yesterday at the HCM City-based Xa Loi Pagoda.

Australian book to provide ‘limitless' inspiration

A book by Australian limbless victim Nick Vujicic was launched in Vietnamese yesterday.

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