Require credit institutions to rectify the situation of "circumventing the ceiling" on deposit interest rates

The Governor of the State Bank (SBV) has just issued a document requesting credit institutions (CIs) to rectify the implementation of mobilization interest rates.

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According to the State Bank, recently, credit institutions and foreign bank branches have stepped up capital mobilization in conjunction with implementing promotional programs, giving gifts, giving interest rates, transferring deposit interest rates to loan interest rates or service prices or other transactions with the same customers and related parties of customers, affecting the market interest rate level.

According to Saigongiaiphong