The short-term upward trend in the stock market has now continued for three consecutive months, showing a growth rate of around 4% in January 2024.
In an interview with Saigon Investment, Mr. PHAN LÊ THÀNH LONG, General Director of AFA Group, noted that the decision by banks to lower deposit interest rates might provide a foundation for a further reduction in lending interest rates in the future.
Since the end of 2023 until the present, online forums have been consistently buzzing with inquiries about banks offering attractive deposit interest rates or when deposit interest rates are expected to rise again.
As we approach the financial announcement season of 2023, numerous securities firms have released analysis reports focusing on the TPB code of Tiên Phong Commercial Joint Stock Bank. Notably, all these analyses underscore the deterioration in the bank's asset quality.
Following the considerable capital withdrawals by foreign investors in Vietnam's stock market throughout 2023, the initial weeks of 2024 are presenting encouraging signs, as this sector has begun net buying once again, albeit on a modest scale.
Economic growth, although still present, is experiencing a gradual decline, raising concerns about the country's ability to escape the middle-income trap. A notable challenge lies in the weakness of private investment. Dr. NGUYỄN ĐÌNH CUNG, former Director of the Vietnam Institute of Economics, highlighted these pressing issues in a recent discussion with Saigon Investment.
Despite the State-owned commercial banks, commonly referred to as the Big 4 (Vietcombank, VietinBank, Agribank, and BIDV), maintaining substantial profits in the billions of dollars, their progress in increasing charter capital has been sluggish. Notably, private joint-stock commercial banks have outpaced the Big 4 in charter capital rankings, marking a concerning trend in recent years.