Weekly information on banking operations (April 17-24, 2017)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- VND 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-6-month terms, 5.4 - 6.5% p.a for 6 to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus term.
- USD mobilizing rates: The USD mobilizing rates were commonly 0% p.a for individuals and economic institutions.
1.2. Lending rates:
VND lending rates: Currently, the average rates were commonly 6-7% p.a for short-term loans in priority fields, while state-owned commercial banks offerred rates of 9 – 10% p.a for medium and long-term loans in priority fields. The rates were commonly 6.8% - 9.0% p.a for short-terms, 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, applicable to those customers who have good loan-repayment track records, as well as strong and transparent finances.
- USD lending rates were commonly 2.8% – 6.0% p.a. The rates were 2.8 – 4.8% p.a for short-term and 4.8 – 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 5 priority sectors |
6.0-7.0 |
9.0-10.0 |
|
USD |
2.8-4.2 |
4.8-6.0 |
|
Group of joint stock commercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for 5 priority sectors |
7.0 |
10.0-10.5 |
|
USD |
4.0-4.8 |
5.0-6.0 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to reports from credit institutions and Vietnamese-based foreign banks, the total amount of transactions on the inter-bank market reached about VND 147,293 billion while the USD amount was equivalent to VND 92,646 billion.
Most VND transactions were overnight and 1-week terms (accounting for 54% and 22% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1-week terms, accounting for 63% and26% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: the average inter-bank interest rates for below 1 month terms were on a slight upaward trend as compared to the previous week. Specifically, the inter-bank interest rates for overnight, 1-week and 1 month terms increased to 4.52% p.a, 4.73% p.a and 5.06% p.a respectively.
For USD transactions: the average inter-bank interest rates for below 1 month terms were also on a slight upaward trend as compared to the previous week. Specifically, the inter-bank interest rates for overnight, 1-week and 1 month terms increased to 0.99% p.a 1.19% p.a and 1.43% 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 |
4.52 |
4.73 |
4.82 |
5.06 |
4.87 |
5.59 |
- |
USD |
0.99 |
1.19 |
1.18 |
1.43 |
1.45 |
2.14 |
- |
3. Forex market:
The buying and selling VND/USD exchange rate quoted by Vietcombank were on a slight upward trend to 22,720/22,790 VND/USD on the first two days of the week, then being on a downwardward trend at 22,675/22,745VND/USD on the final trading day of he week (increased by 20 VND/USD for both buying and selling prices as compared to the final trading day of the previous week).
The SBV will continue to conduct synchronous measures and utilize monetary policy tools to stabilize the forex market and foreign-exchange rates within the set band.
The State Bank of Vietnam
Translated by Le Hang