Le Nam from Hoang Mai District, Ha Noi, said that when depositing cash at a bank, he was told about a deposit package with more attractive interest rates if combined with life insurance. The deposit interest rate could be 0.5-1 per cent per year higher, depending on the value of life insurance he chose. … [Read more...] about Banks push bancassurance amid low credit growth
Bank
Banks cut interest rates from October
SSI cited data from the General Statistical Office (GSO) showing that as of September 22, the mobilised capital in the banking system increased by 7.7 per cent, while credit growth was only 5.12 per cent compared to the beginning of the year, much lower than the 8.79 per cent recorded in the same period last year. … [Read more...] about Banks cut interest rates from October
Banks start to report business performance
The general director of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) Nguyễn Đức Thạch Diễm said by the end of September, the bank had completed 90 per cent of its profit plan for the whole year. This year, the bank aims to achieve a consolidated pre-tax profit of VNĐ2.57 trillion, down by 20 per cent compared to the results in 2019. … [Read more...] about Banks start to report business performance
World Bank wants $12 bn for virus vaccine in poor nations
World Bank wants $12 bn for virus vaccine in poor nations (ANDREW CABALLERO-REYNOLDS / AFP) The bank has already implemented emergency response programs in 111 countries and the extra money, if approved, would be aimed at low- and middle-income countries. … [Read more...] about World Bank wants $12 bn for virus vaccine in poor nations
G20 eyeing six-month debt relief extension: World Bank’s Malpass
In this file photo taken on February 10, 2020 World Bank Group President David Malpass listens during an event at the World Bank in Washington, DC. G20 countries may only approve a six-month debt relief extension amid lagging committment to the pact meant to help poor nations weather the pandemic, World Bank President David Malpass said on on October 12, 2020.(Brendan Smialowski / AFP) The G20 group of largest economies is set to meet Wednesday after they pledged in April to suspend debt service from the world's poorest countries through the end of the year as they faced a sharp economic contraction caused by Covid-19. … [Read more...] about G20 eyeing six-month debt relief extension: World Bank’s Malpass
