Topic: vcbs

Based on the appreciation of the USD in the world market and new credit growth limits from the State Bank of Vietnam (SBV) for commercial banks, the Vietcombank Securities Company (VCBS) has forecast that the VND will depreciate by 3-4 per cent this year. It also forecasts that deposit rates will continue to increase this year, by 1-1.5 per cent.

SSI has forecast that deposit interest rates may increase 0.5-0.7 percentage points over the final two quarters of the year and the year as a whole, adding to the existing 1-1.5 per cent per annum rate. Vietcombank Securities Company (VCBS), meanwhile, said the race to increase deposit rates will affect profits to the end of the year.