central bank deals with banks violating interest cap

Central Bank deals with banks violating interest cap

The State Bank of Vietnam is stepping up measures to penalise banks that are exceeding the deposit interest cap rate of 14 per cent per year by offering bonuses, promotions and incentives to customers.
state bank forms advisory panel of top commercial banks

State Bank forms advisory panel of top commercial banks

The State Bank of Vietnam plans to establish a standing group of 12 leading commercial banks which represent 85 per cent of market share to address issues that arise in the banking system.
central bank to continue strong monetary policy

Central bank to continue strong monetary policy

The State Bank of Vietnam (SBV) will continue its close and flexible policy to control money supply, ensure credit growth below 18 per cent, stabilise exchange rates, and reduce lending interest rates in the remaining months of this year.
banks get nod to lend up to 80 pct on deposits

Banks get nod to lend up to 80 pct on deposits

Commercial banks may lend over 80 per cent of their deposits, under a new circular issued by the State Bank of Vietnam. The new regulation would also allow non-bank credit institutions to lend up to 85 per cent of their deposits.
central bank to remove lending cap

Central bank to remove lending cap

The State Bank of Vietnam (SBV) has issued a new regulation to remove the lending cap of 80 per cent imposed banks as of September 1.
domestic gold savings to be tapped

Domestic gold savings to be tapped

The State Bank of Vietnam (SBV) is mulling over a plan to attract and utilise gold accumulated in domestic savings in order to bolster national foreign currency reserve.
state bank plans to mobilise more gold from public

State Bank plans to mobilise more gold from public

The former head of the Foreign Exchange Management Department Truong Van Phuoc had a talk with Tuoi Tre about the State Bank of Vietnam’s plan to mobilise a large source of gold from the public to buy foreign currencies to strengthen reserves.
banks told to raise foreign currency reserves

Banks told to raise foreign currency reserves

The State Bank of Vietnam on August 29 raised the foreign currency compulsory reserves ratio for commercial banks by 1 percentage point to 8 per cent of total deposits in a move to limit the growing number of new loans being made in US dollars.
central bank remains firm on interest rates

Central bank remains firm on interest rates

The State Bank of Vietnam will hold the line on the prime rate while increasing pressure on commercial banks to comply with the cap on deposit interest rates, State Bank Governor Nguyen Van Binh has announced last week in a bid to help commercial banks reduce borrowing costs.
sbv asked to take flexible monetary policy

SBV asked to take flexible monetary policy

Deputy Prime Minister Vu Van Ninh urged the State Bank of Vietnam (SBV) to take a proactive and flexible monetary policy while working with the bank on August 25.
central bank frees up gold imports

Central bank frees up gold imports

Gold retreated to VND48.8 million a tael Tuesday after surging to VND48.9 million following the State Bank of Vietnam’s unveiling of a package to control the gold market, including unlimited imports.
gold trading floor plan cops flak

Gold trading floor plan cops flak

The Vietnam Association of Financial Investors (VAFI) has called on the State Bank of Vietnam to scrap plans on establishing a national gold trading floor as it would not bring any benefit to the economy.
new regulations on cross border carrying of cash

New regulations on cross-border carrying of cash

The State Bank of Vietnam has issued a circular, stipulating the bringing of foreign currency in cash and Vietnam dong in cash by individuals when leaving or entering the country.
india bank to launch new branch in vietnam

India bank to launch new branch in Vietnam

Managing director of Indian Overseas Bank (IOB) Nupur Mitra has met with the State Bank of Vietnam Governor to urge the upgrade of its current representative office to a new branch in Ho Chi Minh City .
state bank plans to increase dong to dollar value

State Bank plans to increase dong to dollar value

The State Bank of Vietnam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week.