The third largest lender in the country, Vietinbank, has lowered its interest rates by 0.2 percentage points to 6.6 percent for terms of six to less than 12 months, keeping the rate for a 12-month fixed deposit unchanged at 6.8 percent. … [Read more...] about Banks cut deposit rates as credit demand dwindles
Huntington bank refinance mortgage rates
Poor households to receive support from social policy bank
Hanoi (VNA) - The Vietnam Bank for Social Policy (VBSP) has proposed cutting the loan interest rate for poor households by 15 percent from April 1 until the end of the year. Under the proposal, families who made a great contribution to the nation will also receive a reduction of 10 percent. The bank also proposed that employers can borrow money at the bank with no interest for a year to pay employees who must cease working for three months due to the pandemic. It is estimated a total of 16.2 trillion VND (688 million USD) will be borrowed and 3 million workers will benefit from the programme. In recent days, relevant ministries and the VBSP have been completing the Government’s draft resolution about supporting residents in coping with COVID-19 pandemic. VBSP Deputy General Director Nguyen Duc Hai said most people borrowing money at the bank were poor, or families who made great contributions to the nation. He said the bank had implemented different … [Read more...] about Poor households to receive support from social policy bank
COVID-19 affected firms gain access to $695 million low interest loans
Leaders of the State-owned Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV), Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank) and Commercial Joint Stock Bank for Agriculture and Rural Development of Vietnam (Agribank) have also committed to sharply lowering lending rates by 2.5 percentage points per year. … [Read more...] about COVID-19 affected firms gain access to $695 million low interest loans
SE Asia Stocks: Up as global equities cheer slowing virus; Vietnam surges 5%
Financials were the top gainers, with PT Bank Central Asia Tbk climbing 4.4% The Philippine benchmark closed up 4.2%, with gains in big cap conglomerates SM Investments and Ayala Land boosting the index. … [Read more...] about SE Asia Stocks: Up as global equities cheer slowing virus; Vietnam surges 5%
Hundreds of thousands of workers in Jakarta affected by COVID-19
Jakarta (VNA) - The Jakarta Manpower, Transmigration and Energy Agency said on April 6 that a total of 162,416 workers in Jakarta, the capital of Indonesia, have been laid off and forced to take unpaid leave due to COVID-19 pandemic. Of the figure, 30,137 workers of 3,348 registered companies were laid off, while 132,279 others from 14,697 firms were also put on forced unpaid leave," according to the agency. The data will soon be submitted to the Coordinating Ministry for Economic Affairs, it said. As part of its stimulus package to counter the effects of the epidemic, the Indonesian government has issued a policy of expanding its pre-employment card programme which provides job skills training and incentives for laid-off workers. President of the Confederation of Indonesian Trade Unions (KSPI) Said Iqbal has called on the government to prepare more measures to support workers who lose their jobs, such as providing money to workers and drivers. On … [Read more...] about Hundreds of thousands of workers in Jakarta affected by COVID-19
