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3 foreign companies earn $163M from illegal loan shark operations

3 foreign companies earn $163M from illegal loan shark operations

A Latvian man and his accomplices are standing trial in Ho Chi Minh City for operating three loan shark companies charging interest rates as high as 1,379% per year and amassed profits of VND4.15 trillion (US$163 million).
Citizens' deposits rise to new record high

Citizens' deposits rise to new record high

Deposit interest rates edge up as banks gear for rising loan demand

Deposit interest rates edge up as banks gear for rising loan demand

Bank loan interest rates down nearly 1 point this year

Bank loan interest rates down nearly 1 point this year

Banks’ average lending interest rate was 8.3% as of the end of June, down 0.96 percentage points for the year, according to the State Bank of Vietnam.
August 6, 2024 | 06:17 pm PT
Deposit interest rates rise above 6%

Deposit interest rates rise above 6%

Over a dozen lenders have increased their deposit interest rates by 0.1-1.3 percentage points in the past two weeks, with the highest for a 12-month tenor now being 6.2%.
July 30, 2024 | 07:12 pm PT
Banks raise deposit interest rates

Banks raise deposit interest rates

Some 20 banks have hiked their deposit interest rates by 0.1-0.9 percentage points in the last month, with the highest for 12-month deposits now being 5.9%.
July 10, 2024 | 09:54 pm PT
Citizens' deposits at banks reach record high

Citizens' deposits at banks reach record high

Citizens’ deposits reached a historic peak of VND6.676 quadrillion (US$262.2 billion) as of the end of March, according to the State Bank of Vietnam.
June 24, 2024 | 09:50 pm PT
Banks hike deposit interest rates

Banks hike deposit interest rates

Over 15 banks have raised their deposit interest rates since the end of May, with the highest for a 12-month tenor now being 5.6%.
June 11, 2024 | 11:17 pm PT
Major property developers set their sights on social housing

Major property developers set their sights on social housing

Tens of thousands of social housing units are planned to be built with major upmarket developers all set to enter the affordable segment.
May 26, 2024 | 03:28 am PT
Top banker expects deposit interest rates to edge up in H2

Top banker expects deposit interest rates to edge up in H2

Bank deposit interest rates could increase by up to 1 percentage point in the second half of this year from the current 5%, a senior banker said.
May 23, 2024 | 11:19 pm PT
Banks raise interest rates to shore up deposits

Banks raise interest rates to shore up deposits

With deposits falling for the first time in two years, more than 10 banks have hiked interest rates, the highest increase being 1.6 percentage points.
May 7, 2024 | 05:00 pm PT
Banks hike deposit interest rates as inflows slow

Banks hike deposit interest rates as inflows slow

While many banks have reduced deposit interest rates in the last month, some have raised them slightly amid a slowdown in deposit inflows.
April 11, 2024 | 03:07 pm PT
Banking credit edges up in Q1

Banking credit edges up in Q1

Banking credit grew by 1% to VND13.79 quadrillion (US$552.4 billion) in the first three months of 2024, according to the State Bank of Vietnam.
April 7, 2024 | 06:35 pm PT
Banks slash deposit interest rates

Banks slash deposit interest rates

Over 20 banks have cut deposit interest rates in the last month, with the highest for 12-month deposits now being 5.3%.
March 23, 2024 | 05:00 pm PT
PM asks central bank to keep interests low and financial access easier

PM asks central bank to keep interests low and financial access easier

Prime Minister Pham Minh Chinh has tasked the State Bank of Vietnam (SBV) to keep interest rates low and financial access easier for businesses, according to a new directive on Wednesday.
March 7, 2024 | 07:08 pm PT
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