30 C
Ho Chi Minh City
Thursday, July 25, 2024




Savings and stocks

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 […]
To read more, please click here.

Challenges for banks ahead

Many banks might have recorded positive profit growth in 2022. But challenges are awaiting them this year given negative factors such as high interest...

Personal savings increase over 9%

HCMC - Personal savings at banks in 2022 grew strongly last year, according to the HCMC branch of the State Bank of Vietnam (SBV). Data...

Savings rate hikes ease

HCMC – Commercial banks have been in a race to hike savings rates to attract clients, especially since the State Bank of Vietnam's two...

VND14.62 trillion in regular expenditure savings earmarked for Covid fight

HANOI - The Standing Committee of the National Assembly on September 22 decided to use VND14.62 trillion (US$640 million) from the Government’s regular expenditure...

Latest news