The Business Times: Vietnam treasury mobilized vnd3.25tln via government bond sale on jun 20; yields up

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• Vietnam treasury mobilized vnd3.25tln via government bond sale on jun 20; yields up
• Vietnam-invested bank in top 5 in cambodia
• Bad debts estimated at 4.65% total lending by end may, c.bank says
• Vietnam c.bank to continue gold auctions after local lenders close gold position by jun 30
• Seven banks yet to buy enough gold
• Vietnam law makers approve to lower corporate income tax to 22% from jan 1, 2014
• Central bank to slash USD interest rate, raise confidence on VND
• VND13Tln T-Bills fall due during Jun 18-20
• Dong Thap: Total loans +2.83% by Mid-Jun
• Vietinbank makes vnd2.5tln loans to Hoa Sen group

Vietnam treasury mobilized vnd3.25tln via government bond sale on jun 20; yields up Posted: 21 Jun 2013 01:12 AM PDT The State Treasury of Vietnam sold VND3.25 trillion worth of government bonds or 54% of the offered value, at the yield of 6.68-7.65% per annum in an auction held on June 13, said the Hanoi Stock Exchange (HNX). In the auction, the State Treasury planned to sell a combined VND6 trillion worth of government-backed bonds, [...] The post Vietnam treasury mobilized vnd3.25tln via government bond sale on jun 20; yields up appeared first on Vietnam Business News.

Vietnam-invested bank in top 5 in cambodia Posted: 21 Jun 2013 01:12 AM PDT Bank for Investment and Development of Cambodia (BIDC) established by Bank for Investment and Development of Vietnam (BIDV) has been listed among the five largest commercial banks in Cambodia. In a statement released on Tuesday, BIDV cited a report of the National Bank of Cambodia as saying that BIDC held 7% credit market share and [...] The post Vietnam-invested bank in top 5 in cambodia appeared first on Vietnam Business News.

Bad debts estimated at 4.65% total lending by end may, c.bank says Posted: 21 Jun 2013 01:12 AM PDT Non-performing loans of commercial banks in Vietnam accounted for 4.65% of total loans by the end of May this year, the State Bank of Vietnam (SBV) Chief Inspector Nguyen Huu Nghia was quoted as saying. The number was derived from reports of 124 credit institutions, of which 30 institutions or around one-fourth said bad loans [...] The post Bad debts estimated at 4.65% total lending by end may, c.bank says appeared first on Vietnam Business News.

Vietnam c.bank to continue gold auctions after local lenders close gold position by jun 30 Posted: 21 Jun 2013 01:10 AM PDT The State Bank of Vietnam (SBV) would continue holding auctions to sell gold bars after the end of this month, the deadline by which local banks must close all their gold accounts, said SBV deputy governor Le Minh Hung. Half of the gold previously sold via auctions was used by banks to balance their position [...] The post Vietnam c.bank to continue gold auctions after local lenders close gold position by jun 30 appeared first on Vietnam Business News.

Seven banks yet to buy enough gold Posted: 21 Jun 2013 01:10 AM PDT The June 30 deadline for local banks to stop gold mobilization and lending is coming to a close but seven banks have still failed to secure enough gold to repay customers. The June 30 deadline for local banks to stop gold mobilization and lending is coming to a close but seven banks have still failed [...] The post Seven banks yet to buy enough gold appeared first on Vietnam Business News.

Vietnam law makers approve to lower corporate income tax to 22% from jan 1, 2014 Posted: 20 Jun 2013 07:50 PM PDT Vietnam law makers on June 19 passed the Amendment and Supplement Law on Corporate Income Tax with 91.57% vote, and the Corporate Income Tax will be cut to 22% from Jan 1, 2014. Of note, the Amendment Law also places Corporate Income Tax from 10%-20% for many groups of companies. First, those who are paying [...] The post Vietnam law makers approve to lower corporate income tax to 22% from jan 1, 2014 appeared first on Vietnam Business News.

Central bank to slash USD interest rate, raise confidence on VND Posted: 20 Jun 2013 07:48 PM PDT  The State Bank of Vietnam (SBV) said it will slash the deposit dollar interest rates sharply. However, it would keep cautious steps when deciding when and how much to slash the interest rates in order to ensure the liquidity for the banking system. Bankers applaud dollar interest rate reductions The current ceiling dollar deposit interest [...] The post Central bank to slash USD interest rate, raise confidence on VND appeared first on Vietnam Business News.

VND13Tln T-Bills fall due during Jun 18-20 Posted: 20 Jun 2013 07:45 PM PDT The State Bank of Vietnam (SBV) withdrew VND13 trillion from commercial banks in the first three days of the week via outright operation after Treasury bills of the same amount fell due. From March 15, 2012, the central bank issued in total VND308.731 trillion T-bills, of which VND258.145 trillion debts have matured. The central bank [...] The post VND13Tln T-Bills fall due during Jun 18-20 appeared first on Vietnam Business News.

Dong Thap: Total loans +2.83% by Mid-Jun Posted: 20 Jun 2013 07:45 PM PDT Total outstanding credits of commercial banks in Dong Thap province were estimated to have increased by 2.83% to VND30.013 trillion from the beginning of 2013 to mid-June, said the central bank branch in the province. Of the total, lending to agriculture and rural areas accounted for VND15.465 trillion or 51% (+VND591 billion); loans for exporters [...] The post Dong Thap: Total loans +2.83% by Mid-Jun appeared first on Vietnam Business News.

Vietinbank makes vnd2.5tln loans to Hoa Sen group Posted: 20 Jun 2013 07:45 PM PDT Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) will make loans worth VND2.5 trillion to Hoa Sen Group (HSG) for the latter to construct two cold rolling lines. The loans will be disbursed in late 2013 and early 2014, said CTG chairman Pham Huy Hung. Each of these two cold rolling lines has designed capacity [...] The post Vietinbank makes vnd2.5tln loans to Hoa Sen group appeared first on Vietnam Business News.

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