Illustrative image (Source: VNA) HCM City (VNA) – Capital mobilization by banks in HoChi Minh City reached over 2,082 trillion VND (88.1 billion USD) as of May, up0.83 percent from the previous month and 14.47 percent year on year, said themunicipal branch of the State Bank of Vietnam (SBV) on June 7.
Of the amount, commercial joint stock banks accounted for50.85 percent, up 9.08 percent from the same month last year. Saving depositsmade up 49.81 percent of the total, marking a 7.54 percent yearly increase.
As of early May, total outstanding loans surpassed 1,855trillion VND, up 16.82 percent annually and 5.37 percent monthly. Commercialjoint stock banks accounted for over 972.2 trillion VND, or 52.39 percent ofthe total and up 12.76 percent year-on-year.
May was the second consecutive month the SBV had pumpedmoney into the banking system. The inter-bank rate was more stable in early Maybut increased in the latter half of the month, especially for short-term loans.
Experts said there is no need to worry about the system’sliquidity, but close watch should be kept on new factors such as trade deficitand the tendency of capital withdrawal by foreign investors.
The USD Index went up 7 percent to 94.8 point, pushing up theUS dollar price to over 22,880 VND, 0.64 percent higher than the level in thebeginning of the year.
However, the foreign exchange is still cushioned by severalfactors, including a record foreign reserve of 64 billion USD.
The SBV adjusted the daily reference exchange rate down to22,566 VND on June 1, thus pushing the US dollar price down to 22,840 VND.
According to experts, it is necessary to closely keep trackof banking liquidity, trade deficit and indirect capital flows.-VNA
Of the amount, commercial joint stock banks accounted for50.85 percent, up 9.08 percent from the same month last year. Saving depositsmade up 49.81 percent of the total, marking a 7.54 percent yearly increase.
As of early May, total outstanding loans surpassed 1,855trillion VND, up 16.82 percent annually and 5.37 percent monthly. Commercialjoint stock banks accounted for over 972.2 trillion VND, or 52.39 percent ofthe total and up 12.76 percent year-on-year.
May was the second consecutive month the SBV had pumpedmoney into the banking system. The inter-bank rate was more stable in early Maybut increased in the latter half of the month, especially for short-term loans.
Experts said there is no need to worry about the system’sliquidity, but close watch should be kept on new factors such as trade deficitand the tendency of capital withdrawal by foreign investors.
The USD Index went up 7 percent to 94.8 point, pushing up theUS dollar price to over 22,880 VND, 0.64 percent higher than the level in thebeginning of the year.
However, the foreign exchange is still cushioned by severalfactors, including a record foreign reserve of 64 billion USD.
The SBV adjusted the daily reference exchange rate down to22,566 VND on June 1, thus pushing the US dollar price down to 22,840 VND.
According to experts, it is necessary to closely keep trackof banking liquidity, trade deficit and indirect capital flows.-VNA
VNA
