Bank deposits increase again

Bank deposits increase again

According to the latest updated data from the State Bank of Vietnam about customers' deposits in the credit institution system, after decreasing for two consecutive months, deposits have increased again, gaining more than VND106 trillion in September.
Pressure on lending interest rates strengthens at year’s end

Pressure on lending interest rates strengthens at year’s end

The recent sharp increase in deposit interest rates has pulled lending interest rates up by 3-4 percent per annum over the same period last year. In the face of highly increasing pressure on the USD/VND exchange rate, deposit interest rates have not cooled down yet, so the pressure on lending interest rates in the peak months of the year is still huge.
Commercial banks raise US dollar price to as high as VND24,888 per dollar

Commercial banks raise US dollar price to as high as VND24,888 per dollar

Although the State Bank of Vietnam (SBV) has increased the operating interest rates by 0.5-1 percent from October 25 to reduce the pressure on the USD/VND exchange rate, which has increased sharply over the past time, the US dollar price in commercial banks is listed at the ceiling price of VND24,888 per dollar, within the range of +/-5 percent according to the regulations of the State Bank. 
Nearly VND6 trillion of deposit returns to SCB

Nearly VND6 trillion of deposit returns to SCB

The State Bank of Vietnam (SBV) - Ho Chi Minh City Branch said that, according to a quick report of Saigon Commercial Joint Stock Bank (SCB), customers had returned to depositing nearly VND6 trillion (US$251 million) on October 12, a sharp increase compared to the previous day.
Unblocking capital sources for the economy

Unblocking capital sources for the economy

After the recent increase in credit limit, the State Bank of Vietnam (SBV) has granted 13.6 percent of the total 14 percent credit room in 2022. The SBV continues to prioritize inflation control and macroeconomic stability, maintaining low lending interest rates to support businesses and economic recovery.
Lending interest rates unlikely to keep stable

Lending interest rates unlikely to keep stable

Amid the context that central banks of many countries raised interest rates sharply, from September 23, the State Bank of Vietnam (SBV) decided to increase operating interest rates, which experts assessed as a timely action.
SBV raises operating interest rates

SBV raises operating interest rates

The maximum interest rate applied for demand deposits with terms of less than one month is 0.5 percent per annum, and the maximum interest rate for deposits with a term from one month to less than six months is 5 percent per annum.
SBV announces to supervise commercial banks to correct activities

SBV announces to supervise commercial banks to correct activities

Following people’s complaints that they were encouraged to buy life insurance but in fact, they were forced to buy the insurance by bank staff when asking for loans at many commercial banks, the State Bank of Vietnam (SBV) announced to strengthen supervision of this matter.
Banks forcing compulsory insurance on customers

Banks forcing compulsory insurance on customers

Commercial Banks with limited credit room have agreed to work for insurance companies and are now forcing customers to buy compulsory insurance before they can receive loans.