The Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) has announced to put on a preferential lending program for exporters. Borrowers of export credit in Vietnam dong at Eximbank will pay an annual interest rate of 17%. The term of such a loan is three months. Another option is Eximbank will roll out a local currency export credit program based on interest rates for foreign currency. The... 

The local gold price still fluctuated wildly on Tuesday, rising by VND1.5 million from the previous day to VND45.6 million a tael, but the difference between the local and global prices narrowed after the central bank swiftly announced gold import quotas. However, the dollar also entered the upward price spiral as bullion traders needed the greenback to import gold. The precious metal opened up strongly... 

HSBC Vietnam is on the money. HSBC last week announced its 2011’s first half pre-tax profit in Vietnam soared 116 per cent, far exceeding the 70-90 per cent growth of a few leading Vietnamese lenders like Vietinbank and Eximbank and much higher than the average of 10.5 per cent of local banks. The profit stood at $82 million, including that of wholly foreign locally incorporated HSBC Bank Vietnam... 

Vietnam Export Import Commercial Joint Stocks Bank (Eximbank) has entered the world’s top 25 banks with high growth rates, announced The Banker, an international financial affairs publication. Eximbank is the only bank in Vietnam and the Southeast Asian region to enter this year’s top rankings and also the world’s top 1,000 banks. The Banker’s Top 1000 World Banks ranking has been conducted... 

The fact that the State Bank of Vietnam has set up the interest rate ceiling on dollar deposits at 2 percent, to be applied to individual deposits and 0.5 percent to institutional deposits; plus the measures to strictly control the foreign exchange market, have brought fat profits to some banks and big worries to others. Exchange rate down, making bankers happy After June 2, when the State Bank of... 

Several banks in HCMC are trialing the service of money transfer via automated teller machines (ATMs), and the service will be widely available at all banks between 2013 and 2015, said the central bank’s HCMC Branch. Nguyen Van Dung, deputy director the State Bank of Vietnam’s HCMC Branch, told a seminar on Tuesday that cardholders would not have to perform the money transfer service at banks’... 

Commercial banks’ gold lending will no longer be allowed as of the first of May. Banks are therefore forced to hammer out a way out for their gold deposit assets. The central bank’s Circular 11 dated April 20, 2011, rules that credit institutions shall not give loans in gold to customers and counterparts, including gold in credit contracts which have been signed but yet to be executed. According... 

The local market continued its gloomy days on Thursday as it crashed to the lowest level since October after six losing sessions in a row. The VN-Index once again lost a hefty 10.06 points, or 2.21%, against the day earlier to 444.85. Liquidity on the southern bourse also declined as there were 25.5 million shares worth VND492 billion changing hands, down 10.7% and 8.4% against the previous respectively.... 

Local banks are scaling up personal loan lending rates to cover escalating operational costs. According to a source from a Hanoi big commercial joint stock bank, from May 16 the bank started to work with personal customers on lending rate hike. “With current high deposit rates of 14 per cent per year, we inevitably have to scale up lending rates to cover escalating operational costs,” said the... 

A surprise move yesterday which saw several commercial banks raising dollar selling prices to the maximum permitted level and then reducing prices late in the afternoon triggered concerns about dollar trading in the system. The State Bank of Vietnam yesterday set the interbank rate at VND20,673.00 per US dollar, allowing commercial banks to trade the dollar between VND20,466.27 and VND20,879.73. The...