Shares mixed, money flows in mid and small caps

Deposit interest rate to stay low as banks keep borrowing costs down

The low interest rate for deposits is part of an effort to lower lending rates for consumers and businesses, who have been struggling during the pandemic. 

HCM City wants tax reduction for COVID-affected businesses The HCM City People’s Committee has made several suggestions for a Ministry of Finance decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2 per cent higher than deposit interest rates.

State Bank agrees to extend debt rescheduling for six months The State Bank of Việt Nam (SBV) agreed to extend debt rescheduling for businesses for a further six months until June 30, 2022.

Banks continually cut lending rates to aid pandemic affected customers Commercial banks have continuously announced lending interest rate reductions to support and accompany customers to overcome the adverse impacts of the COVID-19 pandemic.

Commercial banks urged to meet rate cut commitments The State Bank of Vietnam (SBV) has requested commercial banks to reduce lending interest rates as per previous commitments. 

Banks reduce pressure of bad debt during COVID-19 Outbreaks of COVID-19, especially in the first half of 2021, are negatively affecting the repayment of debt. This increases the pressure of bad debt on the banking system. Nguyễn Quốc Hùng, general secretary of the Việt Nam Banking Association, spoke to Vietnam News Agency about this issue.

Banks increase profits on strong credit growth Banks at the end of July reported significant increases in first-half profits on strong credit growth despite pressures from the pandemic

Analysts praise VIB's business strategies at meeting for Q2 business results The online meeting discussed three main topics including VIB's strong business results in the first half of 2021, key business strategies that has helped VIB become the top retail bank in Việt Nam and digital banking - the future of retail business.

SBV allows banks to expand credit room

The State Bank of Việt Nam (SBV) has just officially approved credit room extension for some banks.