State Bank: Investments from credit institutions surge in May

Investments injected by credit organisations into the economy surged sharply in May, according to the State Bank of Vietnam ’s report on banking operations in the last month.

According to the central bank, investments in the economy in May increased by 4.2 percent over the previous month and 14.91 percent over last year’s end. Investments in VND increased by 4.96 percent and in foreign currencies, by 0.68 percent over April.

The bank said that this was a good signal for the economy’s capital demands, particularly in the context that loan interest rates are supportive.

May saw the annual interest rates for deposits in VND increase by 0.15-0.65 percent to stay at around 7.3-8.88 percent. Loan interest rates were kept stable at between 8.5-10.5 percent per annum.

According to the State Bank, the total deposits at credit organisations in May surged by 3.87 percent over April and 13.64 percent over last year’s end. Deposits in VND increased by 4.6 percent and in foreign currencies by 1.33 percent over April.

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