Commercial banks’ purchase of real estate corporate bonds is considered indirect lending to real estate firms, experts say. Corporate bond rush The interest rates for the following years will be calculated by the average interest rate of three banks plus 4.8 percent. The bond interest rates of 10-14.5 percent per annum have caught special attention from the public because they are double bank deposit interest rates. However, the real interest rates bond holders can receive won’t be that high after they pay fees to banks. The HCMC Infrastructure Investment JSC issued VND200 billion worth of bonds with the interest rate of 11 percent for the first year. The interest rates for the next years will be calculated by the TP Bank’s one-year deposit interest rate plus 3.5 percent. Risks Kim Chi What's behind real estate firms’ race to issue corporate bonds? Real estate firms are rushing to issue corporate bonds, which analysts say shows their thirst … [Read more...] about VN banks told to be careful with corporate bonds
Where is capital one bank
Several local banks have reduced their interest rates in recent days, going against the banking sector’s general year-end trend of increasing rates to boost earnings. Savings rates were reduced by 0.1-0.2 percentage points by ABBank, Saigon-Hanoi Bank (SHB), VPBank and Techcombank.— Photo vietnamnet.vn On Monday, Saigon Commercial Bank (SCB) cut its 24-month savings rate by 0.2 percentage point to 7.55 per cent per annum. Ban Viet Bank (VietCapitalBank) in early November curbed savings rates by 0.1-0.2 percentage point for accounts with terms of less than 12 months and more than 24 months. But the bank raised rates for 15-month accounts by 0.2 percentage point to 8.5 per cent per annum. At Eximbank, savings rates for 15-month and 18-month accounts were also cut by 0.2 percentage point to 8.1 per cent per annum. Savings rates were reduced by 0.1-0.2 percentage points by ABBank, Saigon-Hanoi Bank (SHB), VPBank and Techcombank. The banks’ third-quarter financial … [Read more...] about VN banks lower savings rates but base rate could still be high
Real estate firms are rushing to issue corporate bonds, which analysts say shows their thirst for capital. But there are risks. A report of the State Securities Commission (SSC) showed that VND60 trillion worth of corporate bonds were issued in the first half of the year. Meanwhile, according to Military Bank Securities, the figure is VND70 trillion. Real estate firms are rushing to issue corporate bonds, which analysts say shows their thirst for capital. But there are risks. The high bond interest rate is what analysts find worrying. Kim Chi Real estate firms switch to bonds due to less bank loans Bond issuance is becoming an ideal channel for real estate firms to raise capital as credit policies for property development are gradually being tightened, experts said. Strong desire for M&A deals in real estate Foreign investment flows into Vietnam’s property sector through merger and acquisition transactions have been reported to be on a strong … [Read more...] about What’s behind real estate firms’ race to issue corporate bonds?
Around 150,000 cubic meters of untreated wastewater is dumped directly into the To Lich River daily, driving its water quality metrics to abysmal levels. Back in 1980, Vu Trong Hong, then the deputy headmaster of Hanoi's Thuy Loi University, used to take his students to the To Lich River to clean it up. Along its banks were villages and fields where farmers grew rice and vegetables. Hanoi's population was around 2.5 million people then. 39 years later, the capital's population has changed beyond Hong's recognition. Its water has turned blackish and miasmic. It currently receives 150,000 cubic meters of wastewater from 1 million people daily, with 280 sewer outlets placed along a 14 kilometer length. And all this is merely a sixth of all the wastewater discharged in the city every day. Only 22 percent of Hanoi's wastewater is treated, meaning the rest is dumped directly into the rivers and lakes of the capital, according to statistics from the Hanoi Sewage and Drainage Company. This … [Read more...] about Foul deed: Hanoi lays waste to a majestic river
A corner of Ha Long city (Photo: baochinhphu.vn) Quang Ninh (VNA) – Together with the capital city of Hanoi and the southern economic hub of Ho Chi Minh City, Quang Ninh has become ready to connect with the national public service portal – which will be launched at the end of November 2019. The northeastern province is one of the leading localities nationwide in building e-government and smart city. In 2015, Quang Ninh asked the Prime Minister for permission to pilot the operation of public administration centres of the province and 14 localities. This proposal was approved by the Government leader. In 2016, Quang Ninh began to implement a smart city model project, which applies advanced technologies to develop integrated database for all sectors. In August 2019, Quang Ninh put into operation a smart city operation centre and the province’s public service portal. The centre connects the database of departments and agencies in all socio-economic … [Read more...] about Quang Ninh ready to connect with national public service portal