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Tag Archives: SBV

SBV to stabilise gold prices

Prime Minister Nguyen Tan Dung has allowed the State Bank of Vietnam (SBV) to trade gold bars in an effort to stabilise the local gold market and stock gold bullion for the State foreign exchange reserve. A Government Decision, signed on March 4, states that the central bank governor will …

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Gold prices continue to fall

The Vietnamese price of SJC gold has sharply decreased from February 25 to March 2, hitting a six-month low The reduction arose from the State Bank of Vietnam’s (SBV) efforts to limit the disparity between international and domestic gold prices, sparking a sell-off. Gold prices decreased by VND2 million per …

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Exchange rates to follow market rules

State Bank of Vietnam (SBV) Governor Nguyen Van Binh has said exchange rates in 2013 will be adjusted in accordance with market practices. In a recent interview granted to the Government’s portal, Binh made an in-depth analysis of market trends in 2013 and the central bank’s management policy. Following are …

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Banks urged to restore market confidence

State Bank of Vietnam (SBV) Governor Nguyen Van Binh believes the banking sector will implement practical measures to limit inflation rates to between 6–7 percent and maintain a credit growth rate of 12–13 percent. Addressing a conference in Ho Chi Minh City on January 22, Governor Binh highlighted the banking …

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Bad debt settlement – key to bank restructuring

The success of the commercial bank restructuring process rests heavily on the settlement of bad debts that continue to obstruct capital mobilisation for the national economy. Over the past 20 years of Doi Moi (Renovation), the shortcomings of local commercial banks have been exposed, particularly through poor management, inadequate human …

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Banks lower profit expectations for the year

Amid economic difficulties, many banks have proposed lowering their profit targets for this year. Experts have said that the trend will continue by the end of the year. The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and the Bank for Foreign Trade of Vietnam JSC (Vietcombank) have …

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Banks find it difficult to achieve annual profit targets

A number of commercial banks risk falling short of their annual profit targets after being disadvantaged by strict lending controls, low credit growth rates, and rising bad debts. According to the Joint Stock Commercial Bank for Foreign Trade of Vietnam‘s (Vietcombank) third quarter report, most banks’ margins were disappointingly lower …

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