Weekly Information on Banking Activities (September 10 - 14, 2012)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates were stable as compared to 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 0.5-1% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates: the rates were stable in comparison with the previous week. The Vietnam Bank for Agriculture and Rural Development (VBARD) continued to decrease lending rate for existing loans, extend repayment period for the maximum of 24 months, and provide new loans with the maximum rate of 11% p.a for households and collectives. 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 12 - commonly at 11-13 - the lowest rate at 11 |
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 89,474 billion and a USD amount equivalent to VND 46,045 billion , i.e. VND 17,895 and VND 9,209 billion per day averagely.
Most transactions were short terms with an amount of VND 69,693 billion, accounting for 78% of the total amount of VND transactions. Short – term transactions in USD reached an amount equivalent to VND 31,347 billion, accounting for 68% 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 for most terms decreased, of which the rates for overnight to 1 month terms decreased by 0.05 perccentage point p.a (overnight term) to 0.41 percentage point p.a (3 week term). The rates for 3 month term decreased by 3.11 percentage points p.a to 8.89% p.a.
For the rates in USD, the average interest rates for 3 week and 1 month terms decreased by 0.36 percentage point p.a and 0.37 percentage point p.a respectively. The rates for other terms increased by 0.06 percentage point p.a (overnight term) to 0.62 percentage point p.a (3 month term). The rate for 6 month term increased by 1.45 percentage point p.a.
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 |
VND |
4.76 |
5.49 |
6.62 |
6.43 |
7.91 |
7.36 |
8.89 |
10.35 |
- |
- |
USD |
0.27 |
0.56 |
0.52 |
0.01 |
0.37 |
- |
2.02 |
3.22 |
2.16 |
- |
3.Exchange rate
The exchange rate market continued to be stable. The foreign currency position of the banking sector was slightly positive. The VND/USD trading exchange rate quoted by commercial banks was around 20,830-20,870.
DH