Interest rate of short-term deposits inches up

Tuesday, Sep 19, 2017 15:44

Interest rate of short-term deposits last week inched up 0.1-0.2 percentage points. — Photo VPBank

Interest rate of short-term deposits last week inched up 0.1-0.2 percentage points, according to a report from SSI Retail Research.

According to the report, the rates of one-month and six-month deposits increased from 4.5 per cent to 4.7 per cent per year and from 5.5 per cent to 5.6 per cent per year, respectively.

In contrast, the rate of medium-term deposits declined slightly, with six and 12-month deposits dropping to 5.8 per cent and 6.7 per cent from 6.0 per cent and 6.8 per cent, respectively.

Experts attributed the change to seasonal reasons as banks often restructure their capital source in the last quarter of the year.

At the interbank market, the overnight and one-week rates last week also inched up to 0.76 per cent and 0.99 per cent, respectively.

According to the SSI’s report, during the past week, the central bank issued bills worth VND18.43 trillion (US$811.9 million) at yield of 0.45 per cent, up from 0.4 per cent in the previous week.

The report also showed that in the bond market, the State Treasury last week called for the bid of VND2 trillion bonds for four maturities -- five years, seven years, 10 years and 15 years.

Five and seven-year tenor bonds successfully mobilised VND254 billion and VND200 billion at yields of 4.63 and 4.83 per cent per year, respectively, 0.04 and 0.02 per cent lower than the bid winning interest rates of the previous session.

Ten-year tenor bonds also mobilised VND400 billion at yield of 5.38 per cent per year, equal to the bid winning interest rate of the previous session.

Fifteen-year tenor bonds did not have bid winning interest rate.

The average interest rate for G-bond auctions last month was 4.6 per cent per year for five-year tenor, 4.8 per cent for seven-year tenor, 5.38 per cent for 10-year tenor, 5.75 per cent for 15-year tenor and 6.1 per cent for 30-year tenor.

The Ha Noi Stock Exchange (HNX) last month organised 17 auctions, mobilising a total of bonds worth VND3.179 trillion issued by the State Treasury. Compared with the previous month, the bid winning interest rates of Treasury bonds in August tended to decrease, with 0.12 per cent per year for a five-year term, 0.15 per cent for a seven-year term and 0.12 per cent for a 30-year term.

The State Treasury has, so far, this year successfully mobilised G-bonds worth more than VND145.956 trillion through auction at the HNX. — VNS

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