Weekly Information on Banking Activities (May 2 – 4, 2012)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were commonly 2.5-3% p.a for demand deposits and 3.5-4% for all the time deposits of less-than-one-month maturity, 11.5-12% p.a for over 1 month deposits.
- The USD mobilizing rates were commonly 2% p.a for individuals and 0.5-1% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates were stable as compared to the previous week. The rates were commonly 13.5% - 16.5% p.a for agricultural and rural development and exporters, and the lowest rate was 12% p.a applicable to enterprises purchasing rice for inventory; 14.5-18% p.a for other productive and business enterprises; and 17-20% 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 15.5-17 - the lowest rate at 15 - Commonly at 13.5-16.5 - the lowest rate at 12 |
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 16.5-19 - the lowest rate at 16.5 - commonly at 16-18 - the lowest rate at 13 |
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 81,046 billion and a USD amount equivalent to VND 42,261 billion , i.e. VND 27,015 and VND 14,087 billion per day averagely.
Most transactions were short terms, such as the overnight and 1 week terms with an amount of VND 58,512 billion, accounting for 72% of the total amount of VND transactions. Most transactions in USD were short term, reaching an amount equivalent to VND 32,854 billion, accounting for 78% 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 of 1 week to 6 month terms were down by 0.22 percentage point p.a (2 week term) to 3.27 percentage points p.a (6 month term). The other rates slightly increased by below 1 percentage point p.a. There was no transaction for 9 month term.
For the rates in USD, the average interest rates for overnight, 2 week, 1 month terms slightly increased. The rates for 2 month and 6 month terms declined by 0.21 percentage point p.a and 1.19 percentage point p.a respectively whereas the rate for 3 month term remained unchanged at 2.78% p.a. There was no transaction for 3 week, 9 month, 12 month and over 12 month terms.
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 |
6.82 |
4.76 |
5.71 |
8.08 |
8.21 |
9.37 |
10.90 |
8.77 |
- |
12.01 |
13.00 |
USD |
0.35 |
0.69 |
1.13 |
- |
0.79 |
0.82 |
2.78 |
2.31 |
- |
- |
- |
3.Exchange rate
The forex market showed positive movements with the exchange rate being stable. The liquidity was improved. Credit institutions could continue to make net purchase of foreign currencies from their clients. The foreign exchange position was slightly positive. The VND/USD trading exchange rate quoted by commercial banks was around 20,820-20,870.
LVH