Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.


We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap

Vietnam to Cut Banks Reserves Interest Rate to 1.2 per cent, Cap Credit Growth at 25 per cent

Post new topic   Reply to topic

Go down

Vietnam to Cut Banks Reserves Interest Rate to 1.2 per cent, Cap Credit Growth at 25 per cent

Post  1alaskan on Sun Jun 24, 2012 4:46 pm

Vietnam to Cut Banks Reserves Interest Rate to 1.2 per cent, Cap Credit Growth at 25 per cent

. The State Bank of Vietnam (SBV), the country’s central bank, said on July 21 that it has decided to slash interest rates of compulsory reserves of local banks to 1.2 per cent per annum from the current 3.6 per cent, the second time so far this year. .The SBV’s decision will take effect August 1 this year. .“The central bank’s move has demonstrated that the local monetary market is stable and bank liquidity is good,” Tran Hoang Ngan vice dean of the Ho Chi Minh Economics University said. .“It is time that the SBV should not support local banks any more after they posted impressive earnings reports in the first half,” Ngan noted. .The SBV’s move will probably cut earnings of local banks, but will not have big effects on credit policies that local banks are adopting, Nguyen Hung general director of VPBank said. .Also, in the second half of this year, the SBV will adopt monetary policies to cap total credit growth of the entire economy between 25 per cent and 27 per cent and total payment balances at 25 per cent. .Late last week, the SBV urged two major banks Vietinbank and Vietcombank to maximize their credit growth rates at no more than 25 per cent this year, the state-run Lao Dong newspaper said. .Meanwhile, ACB was leading local commercial banks with credit growth at 45.6 per cent in the first half of this year, followed by Eximbank with 43 per cent growth, Sacombank with 37.1 per cent and ABBank with 33 per cent, the Financial Investment newspaper said Monday. .This year, the government is striving for GDP growth of 5 per cent and curbing inflation at single digits, state media said.


Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant

Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 35
Location : Planet far far away

View user profile

Back to top Go down

Back to top

Permissions in this forum:
You can reply to topics in this forum