VP Bank has made a 0.5-1.0 percentage point increase on loans at all terms. (Photo: VNA) Hanoi (VNS/VNA) -Interest rates for VND loanshave increased in the past two months after holding steady in the first half ofthe year.
Reports from the Ho Chi MinhSecurities Company showed that the rates rose by 0.46 percentage points againstthe end of last year to 7-9 percent per year for short-term loans and 9-12.5 percentfor medium and long-term loans.
The reports named some banks suchas Agribank, Military Bank, Sacombank, VP Bank and ACB, which have adjustedrates upwards in the past two months.
Agribank has increased the rates on short-term loans by 0.2 percentagepoints and 0.7-1.3 percentage points for medium and long-term loans.
Sacombank and VP Bank have made a0.5-1.0 percentage point increase on loans at all terms while Military Bank hasadjusted up the rates by 0.95 percentage points on short-term loans.
ACB also hiked the rate formedium and long-term loans by 0.2-0.7 percentage points.
HSC’s reports also showed thatthe interest rates on US dollar loans nearly remain unchanged at 5.05 percentper year. According to some banks, demands for dollar loans have currentlyeased after staying high in the first half of the year.
According to HSC, interest rateson VND deposits alsoinched up by 0.06 percentage points last month.
VNDirect Securities Co alsoreported that the inter-bank interest rates sharply increased in the thirdquarter of 2018. It forecast that rate may further increase in the last quarter,but not rise too high due to the Government’s policies.
Statistics from the generalStatistical Office showed that the credit growth in the first nine months of2018 was 9.52 percent, much lower compared to the 12.16 percent increaserecorded in the same period of 2017 and the lowest level in the past fouryears.-VNS/VNA
VNA
