Lending Rates Slightly Fall: Vietnam Central Bank

Lending interest rates saw slight decreases during last week, statistics released by the State Bank of Vietnam showed.

 

The lending interest rate for loans in U.S. dollar by the state-owned commercial banks reduced by 0.1 per cent a year while those offered by joint stock commercial lenders dropped by 0.55 per cent-0.39 per cent a year.

 

Joint stock commercial banks also cut the dong lending interest rates by 0.15 per cent-0.18 per cent per annum.

 

In the meantime, the interest rates for deposits in Vietnam dong stayed unchanged while those for deposits in U.S. dollar declined by 0.22 per cent-0.4 per cent a year compared to the previous week.

 

Interest rate for six-month term deposits in Vietnam dong by state-owned commercial banks is around 17 per cent a year and 17.26 per cent a year for 12 month-term deposits. The rates offered by commercial joint stock banks were 18.04 per cent a year and 17.78 per cent a year, respectively.

 

Analysts predicted that slower CPI growth may back commercial banks to cut down both lending and deposit interest rates next month. (Youth, www.sbv.gov.vn)