Vietnam c.bank injects VND210 trillion to the market in 6 months
The inter-bank rates and VND mobilizing interest rates remained low and stable, stated the National Financial Supervisory Commission (NFSC).
In the first half of the year, the liquidity of the banking system was abundant, thanks to the State Bank of Vietnam (SBV)'s net cash injection of VND210 trillion (US$9.1 billion) to the market and net purchase of foreign currencies exceeding US$11 billion, according to the NFSC.
Illustration photo.
|
Meanwhile, credit grew at lower rate than that of the first half of 2017, an increase of 6.5% compared to the end of 2017 and down 2.2 percentage points year-on-year.
Outstanding loans in commerce, manufacturing, agriculture, forestry and fishery sectors were kept at a stable rate, while consumer lending witnessed strong growth compared to the end of 2017.
Moreover, the inter-bank rates remained low, of which the overnight, one-week, and one-month rates as of June 25 stood at 1%, 1% and 1.6%, respectively, down 0.7 - 0.8 percentage points compared to the previous month and down 1.6 - 2 percentage points year-on-year.
VND mobilizing interest rates also was also stable, reaching 4.2% - 8% per annum (p.a), while the average mobilizing interest rates was around 5.2%. VND lending rate of credit institutions for borrowers was 7% - 11% p.a, and that of USD was 2.4 % - 7% p.a (the average lending rate was 8.8% p.a).
In particular, a number of banks decreased the VND lending rate by 0.5 percentage points p.a for priority fields and customers with good credit ratings.
On the foreign exchange market, the SBV increased the central rate for the VND/USD exchange rate at VND22,655 as of June 28, up 0.27% compared to the previous month and 1.07% to the beginning of the year. Concurrently, the USD/VND exchange rate quoted by commercial banks stood at VND22,965, up 0.7% month-on-month and 1.1% compared to the beginning of the year.
The selling price of USD in the free market increased by 0.96% in June and 1.63% compared to the beginning of the year.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
- IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
- Vietnam's credit growth up 10% in 10 months
- Building Hanoi's smart city with smart banking
- Vietnam stock market clears major legal hurdle to potential upgrade
- Cashless parking in Hanoi: Good model fuels smart transport