When examining the financial landscape, one can observe the relationship between savings and stocks. On December 11, the VN-Index had a P/E ratio of 13.86. While this figure is higher than the 10.51 recorded at the end of 2022, it remains lower than the five-year historical average. The P/E ratio lags far behind the attractive returns offered by the savings channel. Deposit rates nosedive On December 11, BIDV announced a reduction of 0.1 percentage point in its deposit interest rates for terms ranging from 1 to 11 months. The new rates stand at 3.1% for 1-2 months, 3.4% for 3-5 months, a meager 4.4% for 6-11 months, and remain at 5.3% for 12-36 months. Similarly, Vietcombank, another major bank, has also slashed its deposit rates by 0.2 percentage point for 1-11 month deposits, marking its second rate cut in just two weeks. Currently, Vietcombank offers a meager 2.2% per annum for 1-2 months, 2.5% for 3-5 months, 3.5% for 6-11 months, and 4.8% for 12 months or longer, the lowest in recent memory. Private banks have followed suit, despite the usual year-end pressure on cash inflows. Techcombank, for instance, has reduced its interest rate for 12 months or longer to […]