The home loan package worth VND30 trillion aimed at stimulating the frozen property market will be available soon since the Ministry of Construction and the State Bank of Vietnam (SBV) are completing the final procedures. The construction ministry has drawn up a draft circular on conditions for borrowing loans to buy low-cost or commercial homes of less than 70 square meters each, which are priced... 

The State Bank of Vietnam (SBV) has reduced key interest rates by one percentage point while deposit rates for tenors less than 12 months remain at 7.5% per annum. The refinancing rate, discounted rate, and overnight rate for electronic inter-bank transactions has been cut by one percentage point to 7%, 5% and 8% per annum respectively. In Circular No. 10/2013/TT-NHNN issued last Friday, SBV also... 

Importers and exporters have urged the State Bank of Vietnam to slash the dollar interest rates further to 5 percent per annum. A senior executive of the central bank once promised to find the way to force the rates to 4-5 percent. A report of the State Bank of Vietnam showed that since late January, the mobilized capital has increased again. By April 23, the deposits had increased by 5.34 percent... 

The credit growth of the banking system started to show improvement in January-April, at 1.4%, though it was only 0.03% in the first quarter, the State Bank of Vietnam (SBV) reports. The above credit growth is quite positive compared to a reduction of 0.2% in the same period in 2012. However, according to SBV, the credit improvement is still lower than the target. The low credit growth is often seen... 

Vietnam’s central bank said it imported gold to make up for a reduction in reserves from sales to local commercial banks. The purchases were equivalent to the amount sold at the auctions, the State Bank of Vietnam said in a statement on its website today, without giving details. The bank sold 367,000 taels in 13 auctions held from March 28 through May 3, it said. A tael is about 1.2 ounces. The... 

The Vietnam Gold Business Association has written to the State Bank of Vietnam (SBV), proposing loans for enterprises to buy gold via auctions. SBV has specified the minimum gold volume to bid for is 1,000 taels, requiring bidders to have abundant working capital. However, gold trading businesses are not as financially strong as banks, says a dispatch sent from the association. “The above requirement... 

Vietnam’s bonds rose, pushing the three-year yield to the lowest level since 2007, on speculation slower inflation will give the central bank room to cut interest rates to support the economy. The dong gained. The State Bank of Vietnam, which lowered its refinance rate by 1 percentage point to 8 percent last month, may reduce it to 7.5 percent this quarter, Standard Chartered Plc economist Betty... 

The global gold price fell steeply but the local price only slightly edged down, widening the price gap to over VND5 million per tael on Monday. Gold dropped sharply in the New York market last weekend and the downtrend continued in the Asian market on Monday morning. At 2 p.m. on Monday, gold was quoted on www.kitco.com at US$1,477 per ounce before plunging to US$1,409.9 at 6 p.m in the European market,... 

The State Bank of Vietnam (SBV) today will sell 26,000 gold taels via another auction in an effort to narrow the wide gap between local and global gold prices that it failed to do during the three auctions held last week. The total gold volume that has been processed into one-tael SJC gold bars for gold auctions amounts to about ten tons, a source told the Daily. The central bank this time set the... 

The second gold auction held by the State Bank of Vietnam (SBV) on Thursday attracted 22 bidders, with 25,700 taels of gold out of the total 26,000 taels sold to 20 bid winners. Most of the bidders joining the session on Thursday were banks. They had no reason to complain this time as the floor price was lower than the market price, unlike the previous auction. SBV did not give the ceiling price,...