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.
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Bank stocks hit by corporate bonds maturity

Bank stocks are sold out strongly, despite good business results, due to pressure of corporate bonds nearing maturity. Many stocks even fell to the lowest range in last two years as investors feared cash flow risks.
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. 
US dollar at commercial banks surges to VND24,200 per dollar

US dollar at commercial banks surges to VND24,200 per dollar

The State Bank of Vietnam today continued to set the exchange rate for the US dollar up VND17 to VND23,497 per US dollar. As of today, the US$/VND exchange rate at commercial banks was up to VND24,200 per one US dollar, nearly reaching the highest rate regulated by State Bank at VND24,202 per US dollar.
Deposit interest rates surge to 8.4-8.8 percent per annum

Deposit interest rates surge to 8.4-8.8 percent per annum

In the context of tight credit, capital demand often increases at the end of the year, so the race in the deposit interest rates of commercial banks has been increasingly hot. The highest interest rates on deposit products in the market have reached 8.4 percent per annum. Some banks even have offered the highest 13-month deposit interest rate of up to 8.8 percent per annum, but it is for an extremely large sum of deposits.