Banking & Finance
G-bond market sees strong growth in 8M
Government bond issuance reached VND238.7 trillion ($9.04 billion).
Vietnam Today
Prime Minister outlines strategic direction for implementation of fiscal, monetary policy
In his official dispatch No. 159/CD-TTg, dated September 7, PM Pham Minh Chinh sets forth directions for coordination of fiscal and monetary policies.
Banking & Finance
Construction of HMC City International Financial Center to start in September
The $7 billion center is expected to serve as a hub for banking, asset management, capital markets, fintech, and derivatives trading.
SSI names stocks to recover first post-pandemic
According to the SSI Securities Joint Stock Company, stocks to rise first after the pandemic is brought under control will include real estate, banking, consumption, export, and logistics. There are great expectations for aviation stocks from 2022 onwards.
SBV to actively buy foreign currencies
Given that Vietnam is no longer being labeled a “currency manipulator” by the US, the State Bank of Vietnam (SBV) will actively buy foreign currencies in the time to come, after being cautious in the first seven months of the year. This will help it have more room to implement policies in support of businesses.
Commercial banks to cut interest rates to support business
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said that while the central bank does not have a support package, commercial banks have committed to further reducing interest rates by a total of nearly VND20.5 trillion ($895.67 million) from now to the end of the year to support people and businesses. Four State-owned commercial banks - Vietinbank, Vietcombank, BIDV, and Agribank - have also agreed to reduce interest rates by a total of about VND1 trillion ($43.73 million).
Viet Dragon Securities: NIM affected short term
The Viet Dragon Securities Corporation (VDSC) has forecast that the net interest margin (NIM) of listed companies will be negatively affected in the short term and that recovery after re-valuation will be insignificant compared to last year. Overall, annual NIMs are expected to remain sustainable at a higher level compared to the pre-pandemic period, but below the peak between the fourth quarter of 2020 and the second quarter of 2021.
SBV cuts purchase price of USD
The State Bank of Vietnam (SBV)’s Transaction Office adjusted the list price to buy USD on August 11 by a level not seen in recent years. In just over two months, the central bank has therefore sharply reduced the purchase price of foreign currencies twice.
Central bank pumps over $5 bln into foreign currency market
The State Bank of Vietnam (SBV) has pumped some VND118 trillion ($5.13 billion) into the foreign currency market after completing nearly 75 per cent of its purchase contracts. Liquidity in the banking system is expected to remain abundant for the time being, with some VND40 trillion ($1.74 billion) flowing through the channel during the remainder of August.