In the week of April 27th to May 1st, the State Bank of Vietnam (SBV) did not carried out new transactions on the Open Market Operations (OMO). About 10 trillion dong of bills and 1.03 billion dong of OMO matured.
The SBV net injected 9.999 trillion dong via OMO market. The stable liquidity helped interbank rates less volatile, closing the week at 2.25 percent per annum on overnight term, up by six basis points; and 2.45 percent per annum on one-week term, down by one basis point.
The deposit interest rates almost stayed unchanged at banks. Some banks lowered the rates by 30 basis points but some raised 20-30 basis points on terms of six months or more. Currently, the deposit interest rates are ranging at 4.1 4.75 percent per annum for terms of one month to less than six months, 5.1 seven percent per annum for terms of six to less than 12 months, 6.2 7.4 percent per annum for terms of 12 and 13 months.
Q1 financial statements of 18 listed commercial banks showed that the total credit increased by 1.9 percent but total mobilisation was only up by 0.1 percent over the end of 2019. The mobilisation interest rates in the near future may continue to fall but not very sharply because the mobilisation demand of commercial banks remains high.
