31 Aug 2012 Intellasia Finance Vietnam - Hong Kong Business ...

FINANCE
Vietnam finance & business 31 August 2012
loans for households, farms, cooperatives and enterprises to develop husbandry,
slaughter livestock, process pork and fowls, culture tra catfish, and process tra catfish
for export.
The banks were told to review and reassess existing loans as of August 15, 2012, reduce
interest rates for eligible existing loans, and extend payment maturity up to 24 months
for troubled customers. Banks must continue providing loans for customers with feasible
production and business plans with an interest rate of no more than 11 percent
per annum.
The central bank pledged to provide assistance for the State-owned commercial lenders
in case they face troubles in this business.
http://stoxplus.com/News/89601/1/186/loans-for-livestock-husbandry-pork-poultryand-catfish-processing.stox
Deposit rate edges up 31/AUG/2012 INTELLASIA | TUOI TRE
Since the end of August 2012, the deposit interest rate at some small banks showed
signs of edging up with an additional increase of by 0.5-1 percent per year from early
August, according to the local newswire Tuoi Tre (Youth).
A depositor in HCM City said that she was given an additional saving interest rate of
0.5 percent to 12.5 percent per year for her saving at a HCM City's district 5-headquartered
bank's branch.
Of which, the difference of 3.5 percent will be paid directly in cash for customers when
the saving falls due.
Some other banks have launched long-term deposit programmes with the interest rate
of 12 percent per year but depositors will be allowed to make premature cash withdrawals
freely. When making premature withdrawals, customers just sign borrowing
contract at the bank and the loan term will be equal to the remaining term on the saving
book and the lending interest rate will be equal to the saving interest rate of the
bank.
HDBank raises 1-year
term interest rate to
12pct/yr
Gold demand remains
strong
31/AUG/2012 INTELLASIA | DAU TU CHUNG KHOAN PAGE 26
HCM City Development Commercial Joint Stock Bank (HDBank) has recently
launched a saving product at the interest rate of 12 percent per year with a deposit
worth from 500,000 dong onwards for terms of from 3-36 months.
The interest will be paid flexibly monthly or quarterly depending on customers' options
when making deposits.
Particularly, for 12-month term, the bank has applied a saving interest rate of 12 percent
per year.
31/AUG/2012 INTELLASIA | SAIGON TIMES DAILY
Although gold prices saw no strong fluctuations, demands for the precious metal kept
rising in the country on Wednesday, again widening the gap between global and local
gold prices.
Saigon Jewellery Company (SJC) sold up to 6,000 gold taels on Wednesday. According
to Nguyen Cong Tuong, deputy sales manager of SJC, daily selling volume of the company
has been around 5,000 gold taels since August 20.
SJC has recently processed 48,000 gold taels but the information failed to ease gold demands,
Tuong said.
SJC has seen large transactions of up to hundreds of gold taels ordered by banks and
large enterprises.
Explaining the strong demand for gold, a representative of the central bank said that
many banks have increased gold buying to spur liquidity after people have shifted to
gold. Although some enterprises have suggested the central bank to import more gold
to stabilise the market, the agency currently has no plans for gold imports, saying that
domestic supply is enough to serve local buyers.
SJC on Wednesday quoted gold prices at VND44.37 million and VND44.57 million a
tael for buying and selling respectively, rising by VND100,000 against the previous
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