Weekly information on banking operations (April 25 – 29, 2016)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were relatively stable. The rates were commonly 0.8 - 1% p.a for demand and below 1 month terms, 4.5 - 5.4% p.a for 1 to below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates: The USD mobilizing rates were commonly 0% p.a for individuals and economic institutions.
1.2. Lending rates:
- The VND lending rates were stable. The average rates were commonly 6-7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 – 10% p.a for medium and long-term loans for priority fields. The rates were commonly 6.8% - 9.0% p.a for short-term and 9.3% – 11.0% p.a for medium and long-term ordinary loans.
- The USD lending rates were relatively stable. The USD lending rates were commonly 2.8% – 6.2% p.a. The rates were 2.8 – 5.2% p.a for short term and 5.3 – 6.2% p.a for medium and long terms.
The specific lending rates were as follows:
Groups of commercial banks |
Currency |
Short term (% p.a) |
Medium and long terms (% p.a) |
Group of state-owned commercial banks |
- VND applicable to ordinary loans |
6.8-8.8 |
9.3-10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0-7.0 |
9.0-10.0 |
|
|
USD |
2.8-4.5 |
5.3-6.2 |
Group of joint stock commercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0-10.5 |
|
|
USD |
4.5-5.2 |
5.6-6.2 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 153,679 billion (up by VND 908 billion) and USD amount equivalent to VND 75,375 billion (down by VND 4,607 billion) as compared to the week of April 18 - 22, 2016, i.e VND 30,736 billion and VND 15,075 billion per day averagely.
Most VND transactions were overnight and 2 week terms (accounting 27% and 30% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 51% and 31% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: As compared to the week of April 18 - 22, 2016, the inter-bank interest rate significantly decreased for most key terms of 1 month and below. Specifically, the rate for overnight, 1 week and 1 month terms were going down to 3.31%, 3.93%, and 4.84% p.a respectively.
For USD transactions: The average inter – bank interest rates for overnight and 1 month terms decreased 0.04 and 0.02 percentage point p.a respectively while the rates of most key terms were increasing, particularly, the average inter – bank interest rates for 1 week and 2 week terms increased by 0.12 and 0.03 percentage point p.a respectively.
The specific average inter-bank interest rates were as follows:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
3.31 |
3.93 |
4.30 |
4.84 |
5.12 |
5.36 |
- |
USD |
0.38 |
0.62 |
0.57 |
0.68 |
1.15 |
1.32 |
- |
3. Forex market:
In three first days of the week, the buying and selling VND/USD exchange rate quoted by the Vietcombank was unchanged at VND/USD 22,260/22,330, and then decreased to VND/USD 22,250/22,320 for buying and selling rates in the last day of week.
The SBV will continue to conduct consistent measures and monetary policies to stabilize forex market and foreign exchange rate.
The State Bank of Vietnam
Translated by Thoa Le