A number of commercial banks have lowered their interest rates on savings accounts by 0.1-0.4 percentage points in order to offer loans at a lower interest rate to businesses and individuals affected by the Covid-19 outbreak.
Many commercial banks are racing to mobilise capital, luring customers with deposit interest rates of up to more than 9 per cent or 10 per cent per year.
Việt Capital Commercial Joint Stock Bank (VietcapitalBank) offers the highest deposit interest rate of any bank: 8.6 per cent.
The HCM City Real Estate Association (HoREA) has asked the National Assembly to approve a proposal which would give buyers of apartments more time to pay maintenance fees.
Liquidity of the banking system has been plentiful again after the Lunar New Year, helping the central bank net withdraw more than VNĐ51.55 trillion (US$2.2 billion) in the past week.
On Wednesday, four State-owned banks said they would cut interest rates on dong loans in the Government’s priority sectors to support firms in 2019, starting from Thursday.
HDBank has relaunched its Bach nien phat tai (100 years of prosperity) programme offering extra interest to several categories of depositors.
The first quarter of this year saw the Petroleum Equipment Assembly & Metal Structure Joint Stock Company (PXS)’s revenues plummet to a mere VNĐ18.5 billion (US$815,000), 94.4 per cent down year-on-year.
Many Vietnamese prefer to keep the bulk of their wealth in physical cash or property, but there are numerous reasons why investing in a more diversified portfolio of investments is a safer – and more lucrative – course.
Remittance to HCM City in the first quarter of 2018 increased by 4.5 per cent against the same period last year to reach US$1.12 billion, a Central bank official said.