Weekly information on banking operations (September 14 - 18, 2015)
1. Mobilizing and lending rates:
1.1. Mobilizing rates:
- The VND mobilizing rates continued to be stable. 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 below 6 month terms, 5.4 - 6.5% p.a for 6 month to below 12 month terms; and 6.4 – 7.2% p.a for 12 month plus terms.
- The USD mobilizing rates were commonly 0.75% p.a for individuals and 0.25% p.a for economic institutions.
1.2. Lending rates:
- The VND lending rates continued to be stable. The average rates were commonly 6- 7% p.a for short-term loans for priority fields, and state-owned joint-stock commercial banks continued offering the rates of 9 - 10 % p.a for medium and long-term loans for priority fields; and the rates were commonly 6.8% - 9% p.a for short-term and 9.3 – 11% p.a for medium and long-term ordinary loans.
- The USD lending rates were commonly 3 – 6.7% p.a. The rates were 3 – 5.5% p.a for short term and 5.5 – 6.7% p.a for medium and long terms.
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 |
6.8-8.8 |
9.3-10.5 |
- VND applicable to loans for agricultural and rural development, exporters,supporting industries, SMEs and hi-tech enterprises |
6.0-7.0 |
9.0-10.0 |
|
|
USD |
3.0-4.5 |
5.5-6.5 |
Group of joint-stockcommercial banks |
- VND applicable to ordinary loans |
7.8-9.0 |
10.0-11.0 |
- VND applicable to loans for agricultural and rural development, exporters, supporting industries, SMEs and hi-tech enterprises |
7.0 |
10.0-10.5 |
|
|
USD |
4.5-5.5 |
6.0-6.7 |
2. Inter-bank transaction turnover:
2.1. Transactions:
According to the reports of credit institutions and foreign bank branches, the total amount of transactions in the inter-bank market reached about VND 95,253 billion (up by VND 11,771 billion as compared to the week of September 7 - 11, 2015) and USD amount equivalent to VND 26,228 billion (up by VND 3,264 billion as compared to the week of September 7 - 11, 2015), i.e VND 19,051 billion and VND 5,247 billion per day averagely.
Most VND transactions were overnight and 1 week terms (accounting for 63% and 41% of the total amount of VND transactions respectively). Transactions in USD were mostly overnight and 1 week terms which accounted for 66% and 28% of the total amount of USD transactions respectively.
2.2. The average inter-bank interest rates:
For VND transactions: The inter-bank interest rates for most key terms of 1 month and below increased as compared to the rates of the week of September 7 - 9, 2015. Specifically, the average interest rates of overnight, 1 week and 1 month terms were 4.07% p.a; 4.17% p.a and 4.53% p.a respectively.
For USD transactions: The average interest rates for 1 week and 2 week terms increased by 0.01 and 0.07 percentage point p.a respectively while the average interest rates for overnight and 1 month terms decreased by 0.06 and 0.22 percentage point 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 |
4.07 |
4.17 |
4.49 |
4.53 |
4.71 |
4.93 |
- |
USD |
0.18 |
0.25 |
0.48 |
0.57 |
0.68 |
2.15 |
- |
3. Forex market:
The buying and selling VND/USD exchange rate quoted by Vietcombank was around 22,460/22,520 VND/USD (for the first four days of the week of September 14 – 18, 2015) and down to 22,440/22,500 VND/USD (on September 18, 2015) (down by VND/USD 20 as compared to that of the first day of the week of September 14 – 18, 2015).
The SBV will continue to conduct consistent measures and monetary policies, and sell foreign currencies if need be in order to ensure the balance of foreign currency supply and demand for stabilizing forex market.
Translated by LH