Weekly Information on Banking Activities (December 3 – 7, 2012)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were stable in comparison with the previous week. The rate for demand term was 1 -2% p.a, the rates were commonly 2% p.a for below 1 month terms; 8.8-9% p.a for 1 to below 12 month terms; and 10-12% p.a for 12 month and 12 month plus terms.
- The USD mobilizing rates were commonly 2% p.a for individuals and 0.5% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates: the rates were stable as compared to the previous week. Several commercial banks offered various incentive credit packages. For instance, the Export – Import Joint-Stock Commercial Bank provided credit package of VND 5,000 billion with the rate of 12% p.a for purchasing and repairing houses with the aim of contributing to boosting the real estate market; the Vietnam International Joint-Stock Commercial Bank officially quoted the ceiling lending rates for every loan, and carried out lending programs for real estate buyers and business individuals with the rate of 9.9% p.a for the first three months The rates were commonly 10% - 13% p.a for agricultural and rural development, exporters, supporting industries and SMEs; and 12-15% p.a for other productive and business sectors.
- The USD lending rates were commonly 5-7% p.a for short term and 6-8% 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 11-15 - the lowest rate at 8.95 - Commonly at 10-13 - the lowest rate at 8.95 |
14.6-16.5 14.6-16 |
USD |
5.0-6.0 |
6.0-7.5 |
|
Group of joint-stock commercial banks |
-VND applicable to ordinary loans -VND applicable to loans for agricultural production and exporters |
- commonly at 12-15 - the lowest rate at 9 - commonly at 11-13 - the lowest rate at 7.5 |
16-17.5 15-16.5 |
USD |
5.5-7.0 |
6.5-8.5 |
2. Inter-bank transactions turnover:
2.1. Transactions:
According to the reports of commercial banks, the total amount of transactions in the inter-bank market reached about VND 80,424 billion and a USD amount equivalent to VND 46,566 billion , i.e. VND 16,085 billion and VND 9,313 billion per day averagely.
Most transactions were short terms with an amount of VND 59,602 billion, accounting for 74% of the total amount of VND transactions. Short – term transactions in USD reached an amount equivalent to VND 31,299 billion, accounting for 67% of the total amount of USD transactions.
2.2. The average inter- bank interest rates:
For the rates in VND, the average interest rates increased for most terms; of which the rate for 2 and 3 month terms rose by 0.58 and 0.62 percentage points p.a respectively; and the rates for other terms were up by 1.07 percentage point p.a (1 week term) to 1.71 percentage point p.a (3 week term). The rate for 12 month term decreased by 1.18 percentage point p.a. Transactions for 6 month and 6 month plus terms were marginal. There was no transaction for 9 month and over 12 month terms.
For the rates in USD, the average interest rates for overnight and 1 week decreased by 0.04 and 0.07 percentage points respectively. The other rates increased by 0.09 percentage point p.a (1 month term) to 0.52 percentage point p.a (6 month term). There was no transaction for 9 month and over 12 month terms and transaction for 12 month term was marginal.
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 |
Over 9 months and below 12 months |
Over 12 months |
VND |
3.23 |
3.92 |
4.47 |
5.88 |
5.98 |
8.35 |
8.43 |
11.00 |
- |
12.00 |
- |
USD |
0.19 |
0.41 |
0.87 |
0.77 |
0.79 |
0.82 |
2.29 |
2.92 |
- |
4.17 |
- |
3. Exchange rate
The forex market developed positively. The liquidity was improved, and credit institutions could buy foreign currencies from customers. The VND/USD trading exchange rate quoted by commercial banks was around 20,830-20,880.
LVH