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 percent to 14-15 percent a year, however, the interbank interest rate has gone down compared with the end of April.

Overnight interest rate now stays at 13 percent a year, one-week mature at 15 percent pa, 2 weeks to one month at 18 percent a year.

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

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

Tags: Vietnam banking industry, vietnam dong, Vietnam finance, Vietnam financial

Posted by VBN on Jun 9 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