Business

Commercial banks now cashed up

Commercial bank liquidity has improved dramatically since the State Bank of Vietnam injected a heavy volume of capital at reasonable interest rates into the Open Market Operation, OMO, in July.
Commercial bank liquidity has improved dramatically since the State Bankof Vietnam injected a heavy volume of capital at reasonableinterest rates into the Open Market Operation, OMO, in July.

The volume of valuable paper trading remained at about 32-56 trillion VND (1.64-2.87 billion USD) from July to August.

It even climbed to 110 trillion VND (5.64 billion USD) in late June.

But the volume had fallen seven fold to 7.72 trillion VND (395.79 million USD) as of August 20.

"The reduction was very surprising," Thang Long Securities said in a report issued last week.

"It reflects the improvement in bank liquidity."

An Binh Bank's deputy general director Pham Quoc Thanh said: "Aflexible monetary policy will help bank liquidity remain heathy untilthe year-end. Supply and demand will be balanced and interest rates willbe stable."

In order to boost lending, banks like ABBank,Lien Viet Bank, HD Bank and Asia Commercial Bank are reducing borrowingcosts to 10.7-11.7 percent per year for manufacturers, exporters, smalland medium sized enterprises./.
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