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Weekly Information on Banking Activities (Oct 08-14, 2010)
1.Mobilizing rates:
- The mobilizing rates in VND for below 3 month terms were commonly at 8-11% p.a. The rates for above 3 month terms ranged between 11-11.2% p.a. Starting on October 11, the Nam A Joint-Stock Commercial Bank (Nam A Bank) and the Maritime Joint-Stock Commercial Bank (Maritime Bank) issued bills with the highest interest rate of 11.2% p.a, together with gifts in kind by Maritime Bank and cash grant equivalent to the maximum interest rate of 0.96% p.a. by Nam A Bank.
- The mobilizing rates in USD were stable as compared to the previous week.
The specific mobilizing rates were as follows:
|
The quoted mobilizing rates
|
Currency |
Demand
(% p.a.) |
Below 1month
(%p.a) |
3 months
(% p.a.) |
6 months
(% p.a.) |
12 months
(% p.a.) |
Above
12 months
(% p.a.) |
|
Group of state- owned commercial banks |
VND |
2.4–3.0 |
7.5-10.5 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
|
USD (Applicable to economic institutions) |
0.2-0.3 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.2-0.3 |
3.5-3.7 |
3.7-3.9 |
4.0-4.5 |
4.4-5.0 |
4.2-5.2 |
|
Group of joint-stock commercial banks |
VND |
2.4-4.2 |
7.8-11 |
11-11.2 |
11-11.2 |
11-11.2 |
10.5-11.2 |
|
USD (Applicable to economic institutions) |
0.2-0.5 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
|
USD (Applicable to individuals) |
0.25-1.0 |
3.6-4.2 |
3.9-4.6 |
4.2-5.0 |
4.2-5.2 |
4.5-5.3 |
2. Lending rates
The VND lending rates were slightly down for exporters, and relatively stable for other borrowers.
The USD lending rates were stable as compared to the previous week.
The specific lending rates in VND and USD were as follows:
|
The average lending rates |
Currency |
Short term (% p.a.) |
Medium & long terms (% p.a.) |
|
Group of state- owned commercial banks |
VND
|
Ordinary loans |
12.5-14 |
13.5-14.5 |
|
Loans for agricultural production and export |
10.5-12.5 |
12.5-13.5 |
|
USD |
|
5.5-6.0 |
6.0-7.0 |
|
Group of joint-stock commercial banks |
VND
|
Ordinary loans |
13-14.5 |
14-15.5 |
|
Loans for agricultural production and export |
11.5-13 |
13-14 |
|
USD |
|
5.5-6.5 |
6.5-8.0 |
3. Transactions turnover:
According to the express reports of commercial banks, the total amount of transactions in the inter-bank market reached about VND 121,784 billion and USD 2,137 million, i.e. VND 24,357 billion and USD 427 million per day averagely.
Most transactions in VND were short terms (Overnight, 1 and 2 weeks), of which the amount of overnight transactions in VND was 52,664 billion, accounting for 43% of the total amount of transactions in VND. The amount of overnight transactions in USD was 925 million, accounting for 43% of the total amount of USD transactions.
4. Interest rates:
For the rates in VND, the average VND interbank interest rate for most terms increased by 0.07- 0.52 percentage points, however, the rate for 12 month term was 10.81% p.a, up by 2.09 percentage point. The rate for 3 month term decreased by 0.54 percentage point, to 9.61%.
The average overnight rate was 7.11% p.a. The rate for 3 month term was below 10% p.a. The rates for 6 and 12 month terms were around 11% p.a. The highest lending rate was 12% p.a. while the lowest rate was 6% p.a. (Excluding the demand rate).
For the rates in USD, the average interest rates in USD decreased by 0.06 – 0.2 percentage points for most terms. The rate for 6 month term declined to 1.03% from 2.60% p.a (Down by 1.57 percentage point). The rate for 2 week term slightly increased. There was no transaction in USD for demand and 12 month loans.
The average interest rates in the inter-bank market were as follows (% p.a.):
|
Term |
Overnight |
1 week |
2 weeks |
1 month |
3 months |
6 months |
12 months |
Demand |
|
VND |
7.11 |
7.69 |
7.94 |
8.54 |
9.61 |
11.26 |
10.81 |
1.98 |
|
USD |
0.35 |
0.47 |
0.72 |
0.72 |
0.91 |
1.03 |
- |
- |
5. Exchange rate
The demand and supply of foreign currencies were relatively balanced. The exchange rate quoted by commercial banks was below the ceiling rate. The SBV continued to monitor the developments in the forex market in order to manage the exchange rate in a stable manner, contributing to controlling trade deficit and stabilizing macro-economy.
sbv
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