The Business Times: SBV will be “soft” on Circular 02

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• SBV will be “soft” on Circular 02
• Credit growth more than 11% as of december 27
• Vietnam c.bank net injects vnd12,863 bln via OMO in week of dec 23-27
• Banking stocks to flood the market
• Banks keep wooing depositors
• Remittances set for big surge ahead of Tet
• City plans 14% credit growth next year
• Dec 30: Vietnam central bank keeps dollar exchange at vnd21,036
• Dec 30: Vietnam gold falls to vnd35mln/tael, dollar stable
• Stocks up on foreign investors’ purchases

SBV will be “soft” on Circular 02 Posted: 29 Dec 2013 08:02 PM PST Answering to the recent opinions on the application of Circular 02, the State Bank of Vietnam (SBV) plans to select solutions to reconcile the requirements, local newswire VnEconomy reported. Specifically, Governor Nguyen Van Binh said SBV will review a number of provisions in the Circular to gradually reach international standards but not make it more […] The post SBV will be “soft” on Circular 02 appeared first on Vietnam Business News.

Credit growth more than 11% as of december 27 Posted: 29 Dec 2013 08:00 PM PST As of December 27, 2013, credit growth of the whole system has been over 11%, local newspaper Phap luat TP HCM reported citing the State Bank of Vietnam (SBV)'s Governor Nguyen Van Binh. Vietnam Asset Management Company (VAMC) has also purchased VND36 trillion non-perfoming loans (NPLs), equivalent to more than 1% of total outstanding loans […] The post Credit growth more than 11% as of december 27 appeared first on Vietnam Business News.

Vietnam c.bank net injects vnd12,863 bln via OMO in week of dec 23-27 Posted: 29 Dec 2013 07:58 PM PST During the week, the State Bank of Vietnam (SBV) pumped VND15,173 billion through open market operation (OMO) while withdrew VND2,310 bln, resulting in net injection of VND12,863 bln, local newswire NDH reported, citing data from SSI Research. On December 20, interbank interest rates slightly fell across the board, with overnight, 1-week, 1-month and 3-month rates […] The post Vietnam c.bank net injects vnd12,863 bln via OMO in week of dec 23-27 appeared first on Vietnam Business News.

Banking stocks to flood the market Posted: 29 Dec 2013 07:57 PM PST The stock market is expected to see a huge volume of banking shares after the Government and the central bank have announced to force all lenders to list on the local exchanges next year. At present, there are eight stocks listed on the two local exchanges. If all joint stock banks have to undergo listing, […] The post Banking stocks to flood the market appeared first on Vietnam Business News.

Banks keep wooing depositors Posted: 29 Dec 2013 07:55 PM PST Despite their low credit growth, banks have rolled out a slew of year-end promotional programs with attractive interest rates and prizes to boost capital raising. Many banks have reported higher growth in capital mobilization than credit growth. In HCMC, local banks have forecast credit growth of less than 9% this year while their deposits are […] The post Banks keep wooing depositors appeared first on Vietnam Business News.

Remittances set for big surge ahead of Tet Posted: 29 Dec 2013 07:53 PM PST The volume of remittances from overseas Vietnamese to the country in the months before the Tet (Lunar New Year) is expected to be 35 per cent higher than the figure recorded in the other months of 2013, according to the Dong A Remittance Co. As the economies of developed countries have recovered from crisis, revenues […] The post Remittances set for big surge ahead of Tet appeared first on Vietnam Business News.

City plans 14% credit growth next year Posted: 29 Dec 2013 07:51 PM PST The banking sector in HCM City will likely achieve a credit growth rate of 14 per cent in 2014, the State Bank of Viet Nam Governor told the city’s People’s Committee last week. Nguyen Van Binh said the city”s target was feasible given that many programmes were being implemented to strengthen cooperation between local banks […] The post City plans 14% credit growth next year appeared first on Vietnam Business News.

Dec 30: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 29 Dec 2013 07:49 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Monday, unchanged for 6 months. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, some commercial banks raised dollar prices, some […] The post Dec 30: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

Dec 30: Vietnam gold falls to vnd35mln/tael, dollar stable Posted: 29 Dec 2013 07:48 PM PST This morning, Vietnam gold dropped by VND100,000/tael versus last week close to VND35 million a tae, following the world suit. Hochiminh was traded at VND34.70 million/tael for bid and VND35.00 million/tael for ask, respectively as of 10:17 am, Hanoi time. SJC in the North quoted at VND34.70 million/tael for bid and VND35.00 million/tael for ask. […] The post Dec 30: Vietnam gold falls to vnd35mln/tael, dollar stable appeared first on Vietnam Business News.

Stocks up on foreign investors’ purchases Posted: 29 Dec 2013 07:46 PM PST Domestic stock indices went up slightly last week, boosted by economic recovery and ongoing buys by foreign investors. Viet Nam’s gross domestic product (GDP) growth of 5.42 per cent in 2013 was lower than expected, but higher than the growth rate of 2012, according to annual economic data released last week. The data also showed […] The post Stocks up on foreign investors’ purchases appeared first on Vietnam Business News.

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