Prime Minister Paetongtarn Shinawatra appealed for a rate cut after last year’s 2.5% growth came below economists’ estimates.

Commercial banks have stimulated credit demand right from the start of the year to support economic growth.

A strong US dollar will still be a major factor influencing the USD/VND exchange rate in 2025, causing the Vietnamese dong to depreciate by about three% against the dollar, experts forecast.

Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.

The State Bank of Vietnam (SBV) has applied a 0% interest rate on foreign currency deposits to address foreign exchange and exchange rate volatility, Governor Nguyen Thi Hong explained during a question-and-answer event at the 15th National Assembly’s 8th session.

As Thailand is an export-led economy, effective currency management strategies are essential to bolster its export activities, Minister of Finance Pichai Chunhavajira has said.

Prime Minister Pham Minh Chinh on September 21 chaired a meeting between Cabinet members and leaders of 13 joint stock commercial banks to seek measures to promote national socio-economic development.

Banks will need to issue new Tier-2 capital bonds to replace maturing bonds and bolster their capital adequacy ratios, said experts.

Just 3.05% of the 40-trillion-VND aid package with an interest rate discount of 2%, approved by National Assembly in January 2022, has been disbursed so far.

The Vietnam dong is expected to fall to 25,600 VND per US dollar in the second quarter of 2024, and then to 24,800 VND in the final quarter of the year and 24,600 VND in the first quarter of next year, according to experts from the United Overseas Bank (UOB).

The UK’s magazine The Banker has run an article highlighting optimistic opinions of experts on Vietnam’s economic outlook in 2024.

The value of deposits under the Deposit Protection Agency (DPA) of Thailand fell by 1.32% year-on-year, the first decline in a decade, attributed to a fragile economy and war in the Middle East.

Over the past 21 years, loan support from the Vietnam Bank for Social Policies (VBSP) has met the needs for capital of the poor and social policy beneficiaries across the country, contributing to the socio-economic development of localities.

The Government has put forward a proposal to continue with the 2% interest rate support policy for enterprises, cooperatives, and business households, at a recent meeting of the National Assembly Standing Committee.

Many foreign press agencies have run articles featuring Vietnam’s economic growth, pointing to rosy signs in its recovery.

The Bank of Thailand (BoT) raised its key interest rate to a nine-year high on August 2, amid concerns about possible inflation and political instability.

Deputy Prime Minister Le Minh Khai has requested the State Bank of Vietnam (SBV) and relevant ministries and organisations to consider solutions to solve financial difficulties of enterprises in the fishery sector.

Low credit growth has made large banks curb capital mobilisation and implement solutions for attracting borrowers.

Almost all banks in Vietnam have cut interest rates for deposits for terms from six months and above to below 8% per year.

Measures must be taken to bring down bank interest rates, said the State Bank of Vietnam (SBV) at a meeting with CEOs from 26 commercial banks in the country on May 25.