Vietnam dong lending in May declines

The State Bank of Vietnam, the country’s central bank raised the OMO interest rate on 7-day mature from 13% to 14-15% a year, however, the interbank interest rate has gone down compared with the end of April.
Overnight interest rate now stays at 13% a year, one-week mature at 15% pa, 2 weeks to one month at 18% a year.

Regarding capital mobilization, total deposit balance of credit institutions by May 19 is estimated to rise 0.56% month-on-month, in which the dong deposits grew 1.32%, US dollar +1.96%. In comparison with late last year, total deposits surged 1.4%.

Meanwhile, credit growth by May 19 increased 0.01% slightly against April, in which the loans in dong decreased 0.64% but US dollar loans were up 2.19%. The credit growth is estimated to rise 6.07% over the end of 2010. – Vietbiz24

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Jun 7 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry