Credit pours into production
15:49 | 28/05/2015 Finance - Banking
(VEN) - Credit pouring into the economy during April was the highest in the last three years. Capital flows were especially healthy in major sectors such as industry, construction, and other prioritized areas clearly indicating Vietnam’s economic recovery.
US dollar exchange rate increases
14:03 | 22/05/2015 Finance - Banking
(VEN) - Commercial banks continued to increase the trading price for US dollars on May 12. The bid prices of banks increased by VND5-40/dollar to reach VND21,650-21,680/dollar while the ask prices increasing by VND10-30/dollar to range between VND21,725-21,745/dollar. The inter-bank average exchange rate was maintained at VND21,673 per dollar. In general, the rise of the exchange rate has affected Vietnam’s socioeconomic targets and capacity to respond to negative impacts on the international financial market.
Bank M&A deals to reach target
10:15 | 16/05/2015 Finance - Banking
(VEN) - The State Bank of Vietnam (SBV) has drastically implemented the restructuring project of the banking sector with a focus on mergers and acquisitions (M&A) deals. The goal of completing M&A deals in the banking sector in June 2015 is being realized.
Overseas remittances increase
17:38 | 11/05/2015 Finance - Banking
(VEN) - In the first quarter of 2015, overseas remittances pouring into Ho Chi Minh City came to US$1.2 billion, about US$200 million more than the same period in 2014. Increased overseas remittances contributed to an abundant supply of foreign currency to the foreign exchange market, and funded investment in various production and trading activities, including real estate businesses and other operations.