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Tuesday, July 16, 2024

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Banks rush to issue bonds

April 2024 saw banks issuing VND7,800 billion of bonds via private placement, accounting for over 71% of the total value of debt issued by the banking sector in the first four months of the year. Why did banks actively issue debt while their credit growth was so low? Active bond sales In the first four months of this year, VND37,928 billion of corporate bonds were issued, with the banking sector accounting for 33.9% (or nearly VND12,860 billion), the second highest after the real estate sector with 51.2%. In April alone, three banks issued a combined VND7,800 billion of bonds, making up more than 71% of the total value of debt issued by the banking sector in January-April. According to the Vietnam Bond Market Association (VBMA), Techcombank issued VND3,000 billion of three-year bonds with an annual coupon of 3.7%; Vietnam Maritime Commercial Joint Stock Bank (MSB) VND2,800 billion of three-year bonds with a coupon of 3.9%; and Military Commercial Joint Stock Bank (MB) VND2,000 billion in bonds with maturities ranging from 7 to 10 years, with a coupon calculated based on the average of the 12-month savings interest rates of Vietcombank, BIDV, VietinBank, and Agribank plus 1.6% per annum. From the […]
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SBV wants bank deposit incentives banned

HCMC – The State Bank of Vietnam (SBV), the central bank, has proposed prohibiting banks from offering depositors of Vietnamese dong those incentives contradicting regulations. The...

Savings rates decline further

HCMC - Commercial banks have continued savings interest rate cuts, with BIDV taking the lead by reducing rates by 10 to 20 basis points...

Banks further cut deposit rates

HCMC - Commercial banks have recently further lowered interest rates for deposits, with the lowest rates now hitting 1.7% per annum, according to Thanh...

Bank deposits surge to all-time high of VND6.43 quadrillion

Deposits at commercial banks in the first eight months of this year soared by 9.68% against the end of 2022 to an all-time high of VND6.43...

Deposits surge despite rate cuts

Despite the ongoing run of interest rate cuts, deposits have continued flowing into the banking system. This is an omen of economic conditions getting...

Bank deposits hit record high despite interest rate cuts

Your browser does not support the video tag. Deposits at commercial banks in Vietnam had reached an all-time high of over VND12.3 quadrillion in the...

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