Burgeoning offshore deposits no cause for alarm

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Báo Đầu Tư English 5 day(s) ago

Burgeoning offshore deposits no cause for alarm

The other investment account in Vietnam’s balance of payment (BOP) that was bolstered up to a whooping $7.3 billion in the third quarter last year was not something unusual or alarming. Eugenia Victorino, ANZ Banking Group’s economist for the ASEAN and Pacific region, explains the phenomenon to VIR’s Trang Nguyen.

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Vietnamese deposit $7.3b abroad

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Báo Đầu Tư English 1 week(s) ago

Vietnamese deposit $7.3b abroad

Viet Nam saw US dollar deposits overseas skyrocketing, possibly due to foreign currency policies implemented by the central bank, the Việt Nam Institute for Economic and Policy Research (VEPR) said.

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Local banks face liquidity trap as offshore deposits mount

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Báo Dân Trí English 2 week(s) ago

Local banks face liquidity trap as offshore deposits mount

By the end of 2015, the amount of deposited money by Vietnamese nationals in foreign banks reached USD7.3bn, according to the report by the Vietnam Institute for Economic and Policy Research (VEPR).

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Credit institutions optimistic

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Báo Đầu Tư English 3 week(s) ago

Credit institutions optimistic

Most credit institutions expected their business performance to see sustained growth this year thanks to good liquidity and decreasing risks and bad debts, according to a State Bank of Viet Nam (SBV)'s survey.

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Sathapana completes procedures for merger

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VietStock FI English 3 week(s) ago

Sathapana completes procedures for merger

After more than a year of internal structural changes, Sathapana Ltd – the third-largest microfinance institution (MFI) in Cambodia – has completed its merger with a local Japanese-owned bank to operate a consolidated commercial bank following the National Bank of Cambodia’s (NBC) approval of its lending license last Monday.

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New circular puts limit on foreign currency loans

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Báo Dân Trí English 1 month(s) ago 1 related news

New circular puts limit on foreign currency loans

HSBC CEO Pham Hong Hai talked with Dan Tri about the effect of newly-issued Circular 24 by the State Bank of Vietnam on the Vietnam’s dong’s value and foreign exchange rates.

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Vietnam banks race to keep dollar borrowers as tightened lending conditions near

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Báo Tuổi Trẻ English 1 month(s) ago

Vietnam banks race to keep dollar borrowers as tightened lending conditions near

With the effective date of a tightened policy on foreign currency lending drawing near, banks in Vietnam are taking measures to keep borrowers from turning their backs on them.

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Protective import tax sends steel prices soaring

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Báo Đầu Tư English 1 month(s) ago

Protective import tax sends steel prices soaring

A spokesperson for Song Da No2 Joint Stock Company (SD2) called up a magazine to grumble that steel prices have skyrocketed, pushing up costs for his company by billions of dong since the prices started to rise.

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Viet Nam credit growth rises

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Báo Đầu Tư English 1 month(s) ago

Viet Nam credit growth rises

Credit growth by February 20 rose 0.39 per cent while capital mobilisation increased 0.34 per cent against December last year, a government report released early this week said.

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Banks increase deposit rates

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Báo Dân Trí English 1 month(s) ago

Banks increase deposit rates

Large banks have followed smaller banks in raising short and medium-term rates in the first two months of this year.

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Vietnamese firms put expansion plans on hold as credit tightening looms

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Báo Thanh Niên English 1 month(s) ago

Vietnamese firms put expansion plans on hold as credit tightening looms

Nguyen Tu Nhien has planned to borrow more from banks to set up another production line for his woodwork factory in Hanoi this year.

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Domestic developers look for financial alternatives

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Báo Đầu Tư English 1 month(s) ago

Domestic developers look for financial alternatives

Threatened by the government’s initiative to introduce lending limits, real estate developers are seeking new financial sources for their projects instead of depending on bank loans or deposits from buyers.

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USD deposits increase despite zero interest rate

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Báo Dân Trí English 1 month(s) ago

USD deposits increase despite zero interest rate

Despite the government's efforts to minimise the dollarisation of the economy, the public have continued making deposits in US dollars because of fear over inflation and unstable policies.

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Vietnam weighs ceiling rate future

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Báo Đầu Tư English 1 month(s) ago

Vietnam weighs ceiling rate future

Vietnam’s monetary policies resemble China’s in many respects. Two prime examples are the control of capital flows and market interest rates, including the application of ceiling deposit interest rates.

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Short-term deposits hit 5.5% cap chasing long-term highs

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Báo Đầu Tư English 1 month(s) ago

Short-term deposits hit 5.5% cap chasing long-term highs

After pushing long-term rates to a two-year high of 8.38 per cent, some commercial banks continue to raise short-term deposits to the 5.5 per cent cap.

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