Bắc giang
Reduce costs to lower loan interest rates, PM tells banks
Updated: 15:29, 13/12/2022
Prime Minister Pham Minh Chinh has called on banks to cut costs to be able to reduce loan interest rates and help boost economic recovery.
He instructed the State Bank of Vietnam to get banks to speed up disbursement of loan subsidies.
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An employee holds Vietnamese bank notes at a bank in Ho Chi Minh City. |
"Credit should be given to priority sectors such as consumption, investment, exports, industrial property development, and social and workers’ housing development," he said in a directive.
The central bank recently increased the credit growth cap by 1.5-2 percentage points to 15.6-16% for this year, which means another VND240 trillion ($10.17 billion) could enter the economy if the limits are reached.
Many banks are charging loan interest rates of 10-11%, with some even hiking them to 13%.
A man was arrested Tuesday after robbing VND700 million (US$28,100) from a Vietinbank branch in northern Vietnam at gunpoint the previous afternoon.
(BGO) – Implementing the direction from State Bank of
Vietnam about adjusting the deposit interest rates, since October 28, many
commercial banks in Bac Giang province have increased the deposit interest rate
of organizations and individuals.
(BGO) – A ceremony was held on October 16 at Dong Kinh Nghia
Thuc Square and Hoan Kiem pedestrian street of Hanoi to award and close VP Bank
Hanoi Marathon 2022. National track and field athletes like Nguyen Thi Oanh
from Bac Giang province and Trinh Quoc Luong won first prizes at various
distances.
Foreign newspapers have highlighted Vietnam’s impressive success after the World Bank (WB) forecast that its economy will lead Asia with a growth rate of 7.2% this year, up from the previous forecast of 5.3% in April.
Vietnam’s GDP growth is forecast to expand 7.5% in 2022 and 6.7% in 2023, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery.
Source: VnExpress
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