A series of banks cut thousands of people, banking personnel fluctuate

Despite the noise surrounding Sacombank's recent layoffs of a series of employees, the total number of employees as of December 31, 2024 of 27 domestic joint stock commercial banks still increased by nearly 5,500 people compared to the beginning of 2024.

However, eight banks will see a reduction in their headcount in 2024, according to their own financial reports. Banking headcount is expected to continue to decline in the first quarter of 2025.

Thaco will build urban railway, Hoa Phat invests in 10,000 billion VND rail factory

The Government Standing Committee met with businesses on the morning of February 10. Prime Minister Pham Minh Chinh suggested that in major national matters, businesses should register to do what they can and propose policies and mechanisms to implement it, as long as they do not seek personal gain and prevent corruption and negativity.

After calling for and receiving response from businesses, the Prime Minister asked ministries and branches to discuss with businesses, and both sides committed to allowing businesses to participate in implementing major national projects.

Responding to the Prime Minister's invitation, the leader of Thaco Truong Hai Group said that he will focus on participating in urban railway construction, especially train cars and steel components, while the chairman of Hoa Phat Group can invest in a rail manufacturing factory, about 10,000 billion VND.

Proposing banks to sacrifice part of their profits to reduce interest rates

Concluding the Government Standing Committee's meeting on working with commercial banks to accelerate, break through, promote growth and control inflation on the morning of February 11, the Prime Minister expressed his wish for the banking industry to develop more healthily, positively and effectively.

According to the Prime Minister, banks must operate profitably, but in addition to profit, they must bring common benefits to the country, because "when the water rises, the duckweed floats."

Therefore, the banking industry needs to cut costs, reorganize operations more effectively and especially sacrifice part of its profits to reduce lending rates, support the economy, people, businesses, and create livelihoods for the people.

The Prime Minister requested the State Bank to continue innovating credit growth management measures and implementing a roadmap to gradually reduce and eventually eliminate the allocation of credit growth targets for each bank.

At this conference, the General Director of Agribank proposed having a separate mechanism for state-owned commercial banks, including considering providing additional charter capital for Agribank, at least 10,000 billion VND/year, starting from 2025.

The first bank announced a preferential loan package for young people to buy houses.

Asia Commercial Joint Stock Bank (ACB) has just announced the launch of the "First Home" loan package for young people. The term of this loan is up to 30 years, the first fixed interest rate period is 5 years, and the preferential interest rate is only from 5.5%/year.

The loan target group is young customers from 18-35 years old with stable jobs and regular monthly income. With stable jobs and long working time, the risk of the loan is quite low.

Strange developments in domestic gold prices, experts explain rare occurrences

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Domestic gold prices have strange developments. Photo: Pham Hai

On February 12 and 13, domestic gold prices had "strange" developments when for a period of time, the price of SJC gold bars and gold rings, for the first time in many years, was lower than the converted world gold price.

According to experts, the phenomenon of domestic SJC gold bar and gold ring prices being lower than the converted world gold price is quite rare. This may stem from a number of reasons such as: domestic supply-demand gap, decreased purchasing demand; influence from world gold prices; market regulation policies of the State Bank; exchange rate fluctuations...

"The recent US tariffs are not aimed at Vietnam"

Last week, Minister of Industry and Trade Nguyen Hong Dien had a working session with the Ambassador Extraordinary and Plenipotentiary of the United States of America to Vietnam - Marc E. Knapper to discuss the contents of enhancing bilateral economic, trade and investment cooperation in the coming time.

In response to Minister Nguyen Hong Dien's concerns about recent changes in US trade policy, Ambassador Marc E. Knapper emphasized that the tax imposition is not aimed at Vietnam.

According to CNBC , US President Donald Trump has signed an executive order imposing reciprocal tariffs on other countries. Accordingly, the US will impose import tariffs on goods from other countries equivalent to the level they currently impose on US goods. This executive order also means that all of America's trading partners are in the crosshairs.

Proposal to impose real estate transfer tax based on holding period

According to the latest draft submission to the Government on the proposal to develop a Law on Personal Income Tax (replacement), the Ministry of Finance proposed to study the regulation of tax rates on income from real estate transfers based on the holding period.

In order to limit real estate speculation, some countries in the world have used tax tools to increase the cost of speculative behavior and reduce the attractiveness of real estate speculation in the economy, including personal income tax.