Commercial banks are still paying high rates at 11.5 percent per annum for dong deposits, but bankers said interest rates will go down in several months.
News that the Ministry of Finance has established a corporate taxation department – which is in charge of managing the taxation on large companies – has not been applauded by big companies themselves.
SBV has confounded critics who said Vietnam’s currency was getting out of control. The State Bank (SBV) has succeeded in stabilizing the interbank exchange rate at 18,544 dong per dollar, while purchasing dollars to build up reserves.
Bao Viet Commercial Joint Stock Bank (BaoViet Bank) officially launched the new products of Tin An Thinh on June 20, 2010. This product was the combination between BaoViet Bank’s asset-guaranteed overdraft products and Bao Viet Life Insurance’s “An nghiep thanh cong” products.
According to figures of the State Bank of Vietnam, more than a year of operations as 100 percent foreign – invested banks in Vietnam’s market, most foreign banks in Vietnam have earned impressive profits, regardless of the fluctuations of the market.
In efforts to help banks to increase liquidity and access cheap capital, the State Bank of Vietnam (SBV) has actively “pumped” more money with longer term and a larger volume through refinancing and open market operations.
Visa, a global payments technology company, launched the Visa Platinum card last Friday in the Vietnam market, which will first be issued by HSBC Vietnam and Sacombank. “As the economy here continues to mature, we felt the time was right to introduce the first Visa Premium cards to Vietnam,” said Truong Minh Ha, country manager [...]
In order to create favourable conditions for the enterprises to borrow capital for business operation activities, Maritime Commercial Joint Stock Bank (Maritime Bank) has lately lowered the lending rates.
The prime minister has issued an official document permitting Bank for Industry and Commercial Trade of Vietnam (Vietinbank) to offer its loan exceeding 15 percent of its equity capital for Vietnam Posts and Telecommunications Group (VNPT) to carry out two 3G UMTS coverage projects.
Global Petroleum Commercial Joint Stock Bank (GP Bank) on June 20 has officially joined Banknet Alliance. From now onwards, the bank’s cardholders will be able to make transactions such as cash withdrawal, checking the account balance and internal bank transfer at 9,000 ATMs of the bank members of BanknetVN system.
