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Weekly Information on Banking Activities (May 14-20, 2009)
The weekly information on banking activities (May 14-20, 2009) is as follows:
1. The money market remained stable and the deposit balance of credit institutions at the State Bank of Vietnam (SBV) was able to meet reserve requirements and ensure their solvency.
The mobilizing rates in VND of several commercial joint – stock banks such as the Sai Gon Commercial Joint-Stock Bank, the Vietnam Technological and Commercial Joint-Stock Bank, and the Vietnam Commercial Joint-Stock Bank for Private Enterprises increased by 0.2-0.5 percentage point
The mobilizing rates in USD quoted by the Military Commercial Joint-Stock Bank declined by 0.1-0.2 percentage point.
The average mobilizing rate is quoted by May 25, 2009 as follows:
|
The average
mobilizing rate
|
Currency |
Demand
(% p.a) |
3 months
(% p.a) |
6 months
(%p.a) |
12 months
(% p.a) |
|
Group of state- owned
commercial banks |
VND |
2.88 |
7.30 |
7.50 |
7.85 |
|
USD |
0.36 |
1.24 |
1.54 |
1.92 |
|
Group of joint-stock
commercial banks |
VND |
2.87 |
7.68 |
7.87 |
8.12 |
|
USD |
0.50 |
1.78 |
2.05 |
2.40 |
The lending rates remained stable as compared to the previous week. The lending rates in VND of the group of state-owned commercial banks for short-term, and medium and long terms were commonly quoted at 8.5% - 10% p.a, and 10%-10.5% p.a respectively. The group of joint stock commercial banks commonly offered their lending rates in VND from 10 % - 10.5% p.a. The lending rates after deducting the amount of interest rate subsidy were from 4.5% to 6% p.a. The lending rates in USD were from 6% to 7% p.a. The negotiable lending rates applicable for consumer demand and credit card loans were commonly at 12% - 16.5% p.a.
2. According to the express reports of credit institutions, by May 19th, 2009, the average term interest rates in VND in the inter-bank market were on a slight downturn trend for short- terms below 6 months. The highest and lowest decreases for the average overnight rate and 1 month term rate are 0.48 and 0.04 percentage points respectively.
The rates for long terms ( 6 months and 12 months) increased slightly. The rates for 12 and 6 month term rate rose by 0.03 and 0.1 percentage point p.a
The average term interest rates in USD in the inter-bank market were on a slight downward trend for most terms, except rates for 1 and 3 month terms . The highest average interest rate in USD was 2.51% p.a for 3 month term, the rates of other terms ranged between 0.5%-2.0% p.a.
The average interest rates in the inter-bank market were as follows (% p.a):
|
Term |
Overnight |
1
week |
2
weeks |
1
month |
3
month |
6
month |
12
month |
|
VND |
5.61 |
6.78 |
7.07 |
7.38 |
7.82 |
8.49 |
7.75 |
|
USD |
0.48 |
0.70 |
0.93 |
1.18 |
2.51 |
1.75 |
2.06 |
3. During the week, the foreign currency supply and demand were improved after the SBV took proper measures and held dialogues with representatives of enterprises in Hanoi and Ho Chi Minh City. Commercial banks quoted the selling USD/VND exchange rate, commonly at 17,784-17,787.
4. SBV Management Board’s activities
- Governor Nguyen Van Giau and Deputy Governor Nguyen Dong Tien joined President of the Vietnam Chamber of Commerce and Industry (VCCI) in chairing the meeting with representatives of enterprises with the aim of tackling problems in the relations between businesses and bankers in Hanoi and Ho Chi Minh City on May 16 and 18 respectively.
- Governor Nguyen Van Giau and Deputy Governor Nguyen Dong Tien together with leaders of several SBV departments met with the Mekong Delta Housing Development Bank on May 18.
- Deputy Governor Nguyen Toan Thang attended the conference on “Intelligence Bank” held by the SBV and IBM on May 21.
sbv
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