Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) held the first lucky draw, picking the winners of the “bountiful gift” from among depositors who have opened accounts between 16 May and 28 May 2008. The total value of prizes is VND 3 billion. The first lucky draw consists of 05 Attila Elizabeth Motorbikes and 100 electric cookers. The program ends on 19 July 2008.
By the end of April, the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) reported total deposits of 58 trillion dong, up by 20% against the start of this year, outstanding loans of 40 trillion dong, rising by 17%. As for borrowers, Sacombank considers very carefully before supplying capital, partially in order to meet the requirement on reining the credit growth of less than 30% set by the central bank in 2008
One day after the State Bank of Vietnam increased the maximum interest that commercial banks can offer depositors to 18 percent a year, interest rates varied at banks nationwide. On Monday, most banks posted notice that they would increase their deposit interest rates by around 2 percentage points. The Vietnam Bank for Agriculture and Rural Development (Agribank) offers an annual interest rate of 14 percent for time deposits of seven to 12 months and 13.5 percent for 12-month deposits
The central bank's decision on removing the ceiling interest rate of 12% became effective from May 19. However, right from last week, many banks had planned to raise deposit interest rates. At the meeting held on May 16, almost all commercial joint stock banks agreed to remove the ceiling deposit interest rate in order to settle difficulties in raising deposits. Additionally, such a move will present real competitions among banks and help deposit interest rates fluctuate in line with the market mechanism