Sign up | Log in



Home  >>  Daily News  >>  Vietnam News >>  Capital Markets  >>  Foreign currency loans rise at Vietnamese banks

13 August 2009

Foreign currency loans rise at Vietnamese banks

Related Stories

August 11, 2009
Vietnam banks race to push up dong deposit rates

July 21, 2009
Bad loans on the rise in Vietnam's banks

July 14, 2009
Vietnam banks keep consumer credit tight

July 10, 2009
Vietnamese banks plan to set up overseas branches

June 23, 2009
UK insurer plans expansion in Indonesia, Thailand, Vietnam

June 10, 2009
Global lender calls on Vietnam to tighten monetary policy

The outstanding loans in foreign currency in July posted a rise of 1.2 percent, quoted State Bank of Viet Nam (SBV) as saying.

The adjustment down on lending rate of US dollar at banks has attracted the attention of corporate customers who just like buying foreign currency but not like borrowing foreign currency.

The lending rate of US dollar at banks fell from 4.5-6 percent (in May) and 4-6 percent (in June) to 3-5 percent in July. But, the risk on forex rate is still the big barrier for borrowers.

In a bid to ease the pressure on lending rate, commercial banks adjusted down the deposit rate to 1.1-2.5 percent in comparison with 1.24-2.65 percent that was being applied since the end of May.

Meanwhile, the interest rate of dong continues to increase to 8.24-8.62 percent as for deposit rate and at 8.5-10.5 percent for lending rate (excluding the subsidised interest rate).

However, according to the figure from SBV, the transparency of banks showed signs of recovery. Total deposits at banks increased by 2.75 percent month on month, notably, total deposits in dong posted a rise of 3.17 percent.

The credit growth in July also posted a rise of 2.15 percent (credit growth in dong was estimated to increase 2.35 percent), marking the first month when the growth of outstanding loan lower than the growth of deposit.

As for subsidised lending rate programme, to August 7, the total outstanding loans reached over 392.609 trillion dong. During the week from August 1 to 7, the total outstanding loans were over 3.502 trillion dong.

The lending rate is being kept stable at 3-5 percent at banks. So lending in foreign currency is attracting the attention of corporate customers with a stable growth in July.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand