In the economic outlook for the second quarter entitled “Darkest before the dawn”, the bank said the manufacturing sector, which accounts for one-third of the country’s GDP, is expected to grow only 3 percent this year compared to 11 percent in 2019. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
K and h e bank
The central bank’s statistics showed loan payment deadlines were restructured for nearly 260,000 customers with outstanding loans worth nearly VND18 trillion (US$775.8 million). Interest rate cuts and exemptions were offered to more than 421,000 customers to the tune of VND1.3 quadrillion. Banks also provide new loans worth VND1.1 quadrillion to 240,000 customers at rates 0.5-2.5 percentage points lower than pre-pandemic. … [Read more...] about Stronger money policies might be considered to aid economic growth
On July 2, at a bank-enterprises link-up conference, Sacombank earmarked VND1 trillion ($43.1 million) for preferential loans to corporate customers at interest rates starting at 6 per cent to help them to restore and expand their business post- pandemic. … [Read more...] about Sacombank enhances loan package for individual customers by $431.18 million
The biggest problem is how to supervise the money flows between local individual advertisers and overseas suppliers. Accordingly, as they perform transactions via personal credit cards, the people did not have to pay any tax for the suppliers until now, resulting in great amounts of lost tax revenue for the state for years. … [Read more...] about Bank accounts of local advertisers to be drained for Facebook and Google tax arrears
Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate at 23,228 VND per USD on June 24, down 13 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,925 VND/USD and the floor rate 22,531 VND/USD. The opening hour rates at commercial bank saw slight fluctuations. At 8:25 am, Vietcombank listed the buying rate at 23,090 VND/USD and the selling rate at 23,300 VND/USD, down 10 VND from June 23. BIDV listed the buying rate at 23,130 VND/USD and the selling rate at 23,310 VND/USD, both up 10 VND. Meanwhile, Techcombank added 8 VND to both rates, listing the buying rate at 23,110 VND/USD (buying), and 23,310 VND/USD (selling)./. … [Read more...] about Reference exchange rate down 13 VND on June 24