The Hanoitimes – A low-interest rate environment in long term could make capital available for other investment channels, so banks are under pressure to readjust their savings mobilization rates to better attract idle capital. A recovery in production and business activities could lead to higher demand for credit, in turn prompting banks to gradually raise their lending rates from the end of the first quarter. Customers at a branch of VPBank in Hanoi. Photo: Cong Hung Dinh Trong Thinh, lecturer at the Academic of Finance, told Vietnam News Agency (VNA), that lenders, as a result, could also increase capital mobilization rate to further attract cash flow. According to Thinh, Vietnam's effective measures against the Covid-19 pandemic have prevented disruption to economic activities. Meanwhile, the majority of local enterprises have now also resumed normal operation after having struggled with the Covid-19 impacts for over a year, he noted, not to mention the returning of both foreign and domestic investors, which was proven by a large number of newly established enterprises in the first month of 2021. "The economy in this case would require huge amount of capital from the banks, subsequently leading to higher interest rate and capital mobilizing rate," said… Read full this story
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