Weekly Information on Banking Activities (Apri 2 – 6, 2012)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were stable as compared to the previous week. The rates were commonly 3-4% p.a for demand deposits and 4-5% for all the time deposits of less-than-one-month maturity, 12.5-13% p.a for 1 month to 12 month deposits and 11.5-13% p.a for over 12 month deposits.
- The USD mobilizing rates were commonly 2% p.a for individuals and 0.5-1% p.a for economic institutions.
1.1. Lending rates:
- The VND lending rates continued to be stable. The VND lending rates were commonly 14.5% - 16% p.a for agricultural and rural development and exporters, and the lowest rate was 13.5% p.a applicable for corporate customers committing to sell their foreign currency revenue to banks; 16.5-20% p.a for other productive and business enterprises with the lowest rate being 15% p.a; and 20-25% p.a for the non-productive sector.
- The USD lending rates were commonly 6-7.5% p.a for short term and 7.5-9% p.a for medium and long terms.
The specific lending rates were as follows:
Group 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 -VND applicable to loans for agricultural production and exporters |
- commonly at 16.5-17 - the lowest rate at 15 - Commonly at 14.5-16 - the lowest rate at 13.5 |
18-19 17-18 |
USD |
6.0-6.5 |
6.5-7.5 |
|
Group of joint-stock commercial banks |
-VND applicable to ordinary loans -VND applicable to loans for agricultural production and exporters |
- commonly at 18-19 - the lowest rate at 16.5 - commonly at 16.5-19 - the lowest rate at 15 |
19-20 18-20 |
USD |
6.0-7.5 |
7.5-9.0 |
2. Inter-bank operations:
2.1. Inter-bank transactions turnover:
According to the reports of commercial banks, the total amount of transactions in the inter-bank market reached about VND 182,747 billion and a USD amount equivalent to VND 175,322 billion , i.e. VND 36,549 and VND 35,064 billion per day averagely.
Most transactions were short terms such as the overnight and 1 week terms with an amount of VND 123,561 billion, accounting for 68% of the total amount of VND transactions. Most transactions in USD were short term reaching an amount equivalent to VND 149,768 billion, accounting for 85% of the total amount of USD transactions.
2.2. The average inter- bank interest rates:
For the rates in VND, the average inter-bank interest rates continued to decrease by 0.1 (2 week term)– 1.5 (over 12 month terms) percentage points p.a for 1 week, 2 week, 2 month, 3 month and over 12 month terms. The rates for other terms increased, of which the rates for 3 week, 1 month and 6 month terms remarkably increased by 0.69, 0.79 and 1.71 percentage points p.a respectively. The rates for 9 month term remained unchanged at 13.5% p.a.
For the rates in USD, the average interest rates for 1 week and 1 month terms continued to decrease by 0. 1 and 0.34 percentage points p.a respectivevly. The rates for other terms were on a upward trend with an increase of 0.17 (the overnight) – 2.19 (over 12 month terms) percentage points p.a. There was no transaction for 9 month term.
The specific average inter-bank interest rates were as follows:
Term |
Overnight |
1 week |
2 weeks |
3 weeks |
1 month |
2 months |
3 months |
6 months |
9 months |
12 months |
Over 12 months |
VND |
10.34 |
8.90 |
9.17 |
11.17 |
11.98 |
12.20 |
12.64 |
14.90 |
13.50 |
13.05 |
12.00 |
USD |
0.51 |
0.60 |
1.11 |
1.69 |
1.24 |
2.08 |
3.12 |
3.71 |
- |
3.79 |
3.45 |
3.Exchange rate
The forex market showed positive movements. The VND/USD exchange rate was stable again. The foreign currency liquidity was improved, since credit institutions could make net purchase of foreign currencies from their clients. The VND/USD trading exchange rate quoted by commercial banks was around 20,820-20,870.
DH