The cut came as the country’s bank credit growth in the first quarter of this year was only 1.1 per cent, slowing significantly against the 2.28 per cent rate in the same period last year, with many firms scaling down their business due to the adverse impacts of the COVID-19 pandemic. … [Read more...] about COVID-19 pushes banks to lower deposit rates
Central bank of iceland
Banks ramp up support for customers in COVID-19 time
In special cases such as for workers losing their job who are entitled to an allowance of VND1.8 million ($78.26) per month in light of the government’s plan, the bank offers a rate cut of 2 per cent per year, plus not collecting mature original debt and interest from customers while the pandemic lasts. … [Read more...] about Banks ramp up support for customers in COVID-19 time
COVID-19 ravages economy of central Vietnam
Vietnamese economy to grow despite COVID-19: ADB Vietnam’s economic growth rate is expected to slow sharply to 4.8 per cent this year due to the impact of the COVID-19 pandemic, said a new Asian Development Bank (ADB) report released on Thursday. … [Read more...] about COVID-19 ravages economy of central Vietnam
Bank leaders discusses two scenarios for VN’s economy
In general, the governor said, Vietnam will be able to maintain its growth next year but it may face higher inflation. Therefore, the country needs to strengthen control over total means of payment and credit to restrain its growth at around 30 percent and lower in the years to follow. … [Read more...] about Bank leaders discusses two scenarios for VN’s economy
Foreign reserves of Malaysia, Indonesia plunge in March
The BI said the shrinkage is factored by the payment of foreign debts and stabilisation of the rupiah amid an extraordinary situation due to the panic in the financial market because of the COVID-19 pandemic./. … [Read more...] about Foreign reserves of Malaysia, Indonesia plunge in March
