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Weekly Information on Banking Activities (Oct 22-28, 2010)
1.Mobilizing rates:
- The mobilizing rates in VND were stable as compared to the previous week. The mobilizing rates were at 7-10.8% p.a for below 1 month term, 11% p.a for 1 – 12 month terms and 10.5-11% p.a for over 12 month term. However, several banks still applied the forms of interest rate bonus; therefore, the rates for deposits of great value were above 11% p.a.
- The mobilizing rates in USD were stable as compared to the previous week. However, the Vietnam Bank for Agricultural and Rural Development (VBARD) reduced the rates from 0.2 – 0.5 percentage points for 9-24 month terms in line with the interest rates of the market. Accordingly, the mobilizing rates in USD quoted by the VBARD ranged between 3.6 - 4.7% p.a.
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 |
7.0-7.5 |
11.0 |
11.0 |
11.0 |
10.5-11 |
|
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 |
9.0-10.8 |
10.8-11.0 |
10.9-11.0 |
10.95-11.0 |
10.5-11.0 |
|
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 |
3.9-5.0 |
4.0-5.1 |
4.2-5.2 |
4.5-5.6 |
2. Lending rates
The VND lending rate was stable as compared to the previous week. The lending rates were commonly at 10.5-12.3% p.a for priority areas (Agricultural and rural development and export), 12.5-15.5% p.a for ordinary production and business, 16-18% p.a for personal loans.
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 |
12.3-14 |
13.5-14.5 |
|
Loans for agricultural production and export |
10.5-12.3 |
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 122,061 billion and USD 2,792 million, i.e. VND 24,412 billion and USD 558 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 46,461 billion, accounting for 38% of the total amount of transactions in VND. The amount of overnight transactions in USD was 1,771 million, accounting for 63% 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, of which the rates for 6 and 12 month terms slightly rose. The rates for other terms increased by 0.81 – 0.96 percentage points; however, the rate for 1 week term was up by 1.12 percentage point p.a, to 9.22% p.a. The average rate for 3 month term decreased by 0.48 percentage point; the rate for demand term slightly declined.
The average overnight rate was 8.11% p.a. The rate for 3-12 months was below 11.58% p.a. The other rates were around 11% p.a. The highest lending rate was 12% p.a. while the lowest rate was 6% p.a. (Excluding the demand loan rate).
For the rates in USD, the average interest rates in USD increased by 0.12 – 0.53 percentage points for most terms; the rate for 1 month slightly rose. There was no transaction in USD for demand 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 |
8.11 |
9.22 |
9.46 |
10.03 |
10.50 |
11.07 |
11.58 |
1.96 |
|
USD |
0.50 |
0.67 |
0.80 |
0.78 |
1.50 |
1.16 |
2.23 |
- |
5. Exchange rate
The exchange rate quoted by commercial banks was close to the ceiling rate, at 19,495 - 19,500 VND/USD. The SBV continued to monitor the supply and demand of foreign currencies in the market.
sbv
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