Banking - Finance

HA NOI (Homeid)— Prime Minister Nguyen Tan Dung has urged the Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to take drastic measures to become a large-scale commercial bank which operates safely and effectively in the banking system.

Viet Nam will work alongside international partners to combat money laundering and the financing of terrorism, Minister of Public Security Tran Dai Quang has said.

HA NOI (Homeid) — The Vietnam Bank for Social Policies (VBSP), in an auction on July 4, sold out VND500 billion 3-year government-backed bonds at the yield of 8% p.a., up 0.4% from the previous auction on June 21.

HA NOI (Homeid) — The State Bank of Vietnam (SBV) has asked commercial banks to suspend their gold-holding services for customers until it issues instructions - likely to be as far away as August.

HA NOI (Homeid) – The total amount in outstanding loans that credit institutions in Ha Noi have accumulated had reached nearly VND664 trillion (US$31.6 billion) by the end of June, up 1.7 per cent over the beginning of this year and an increase of 8.5 per cent year on year, according to the State Bank.

HA NOI (Homeid) —The global rating agency Fitch Ratings affirmed a stable outlook for three Vietnamese banks and a negative status for one, it said in a press release on Tuesday.

HA NOI (Homeid) — The State Bank of Viet Nam on Wednesday sold 39,000 taels of gold in its 39th gold bar auction in the capital city. Five credit institutions bought the gold at VND37.20-37.30 million (US$1,771-1,776) per tael.

HA NOI (Homeid) — Recently, interest rates have tended to be directed by market forces even though deposit rates are still capped, according to industry insiders.

HA NOI (Homeid) — As the gold price continues to fluctuate, most commercial banks have boosted their gold holding services in a move to cater the local tradition of hoarding the precious metal.

HA NOI (HOMEID)—While all other credit institutions have closed their gold positions, the State Bank of Viet Nam will auction another 40,000 taels tomorrow.