Weekly Information on Banking Activities (April 23 – 27, 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:
- Several commercial banks, namely the Lien Viet Post Joint-Stock Commercial Bank, the Ho Chi Minh City Development Joint-Stock Commercial Bank, the Asia Joint-Stock Commercial Bank, the Bank for Investment and Development of Cambodia Plc.,Ho Chi Minh City branch … provided loans for agricultural and rural development, exporters, productive and business enterprises with the interest rate of 1-2 percentage points p.a lower than that of ordinary loans. The VND lending 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 for 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 99,171 billion and a USD amount equivalent to VND 116,824 billion , i.e. VND 24,793 and VND 29,206 billion per day averagely.
Most transactions were short terms, such as the overnight and 1 week terms with an amount of VND 71,606 billion, accounting for 72% of the total amount of VND transactions. Most transactions in USD were short term, reaching an amount equivalent to VND 99,074 billion, accounting for 85% 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 decreased for most terms, of which the rates for 1 week, 2 week, 1 month, 6 month and over 12 month terms declined by 1.00 to 1.49 percentage points p.a. The rates for overnight and 3 month terms were down by 0.88 and 0.81 percentage points p.a respectively. The rates for 3 week and 2 month terms slightly decreased. The rate for 12 month term significantly decreased by 5.22 percentage point p.a. There was no transaction for 9 month term.
For the rates in USD, the average interest rates for 2 week, 3 week and over 3 month terms increased by 0.10 percentage point p.a (for 2 week term) to 1.78 percentage points p.a (for 12 month term). The other rates were on a downward trend with a decline of 0.23 (overnight term) to 0.78 (2 month term) percentage points p.a. There was no transaction for 12 month term.
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 |
6.69 |
5.79 |
5.93 |
9.27 |
9.27 |
10.56 |
11.78 |
12.04 |
- |
11.87 |
12.00 |
USD |
0.33 |
0.66 |
1.08 |
0.84 |
0.74 |
1.03 |
2.78 |
4.22 |
1.66 |
4.58 |
- |
3.Exchange rate
Credit institutions could continue to make net purchase of foreign currencies from their clients. The foreign currency liquidity was improved. The VND/USD trading exchange rate quoted by commercial banks was around 20,840-20,900.
LVH