Weekly information on banking operations (September 5th – September 9th, 2016)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were relatively stable. There were several slight fluctuations on adjusting mobilizing rates. 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: The average rates were commonly 6-7% p.a for short-term loans for priority fields, and state-owned 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 lending rate for short term loans was 4-5% p.a applied to those customers who have good loan repayment track record, strong and transparent finance.
- The USD lending rates were relatively stable. The USD lending rates were commonly 2.8% – 6.2% p.a. The rates were 2.8 – 5.0% p.a for short term and 5.1 – 6.0% p.a for medium and long term loans.
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 |
6.8-8.5 |
9.3-10.3 |
- 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 |
2.8-4.3 |
5.1-6.0 |
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 |
4.2-5.0 |
5.2-6.0 |
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 118,407 billion (VND 29,.602 billion per day averagely), increased by VND 3,742 billion per day averagely as compared to the week of August 29 – September 1; and USD amount equivalent to VND 72,230 billion (VND 18,058 billion per day averagely), increased by VND 1,461 billion per day averagely in comparison to the previous week.
Most VND transactions were 1 week terms and overnight (accounting 39% and 32% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 47% and 14% 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 August 29 – September 1, 2016, the inter-bank interest rates increased for most key terms below one month. Specifically, the rate for overnight, 1 week and 1 month terms went up to 0.55%, 0.60% and 1.94% p.a respectively.
For USD transactions: The average inter – bank interest rates increased for most key terms, specifically average inter – bank interest rates of overnight, one week and one month terms increased to 0.45% p.a, 0.51% p.a and 0.70% p.a respectively as compared to the previous week.
The specific average inter-bank interest rates were as follows for August 29 – September 1, 2016:
Term |
Over night |
1 week |
2 weeks |
1 month |
3 months |
6 months |
9 months |
VND |
0.55 |
0.60 |
0.86 |
1.94 |
3.62 |
6.35 |
- |
USD |
0.45 |
0.51 |
0.50 |
0.70 |
1.19 |
1.60 |
- |
3. Forex market:
The buying and selling VND/USD exchange rate quoted by the Vietcombank stablized and stood at VND/USD 22.260/22.330 at the end of day (unchanged as compared to the last day of previous week).
The SBV will continue to conduct synchronous measures and tools of monetary policy to stabilize forex market and foreign exchange rate within the allowed margin.
The State Bank of Vietnam
Translated by Thoa Le