Wednesday,  Aug 15, 2018,02:23 (GMT+7) 0 0
Interest rates may dip further in Q4
The Saigon Times Daily
Wednesday,  Oct 11, 2017,21:30 (GMT+7)

Interest rates may dip further in Q4

The Saigon Times Daily

HCMC - Interest rates could fall in the fourth quarter of 2017, according to a National Financial Supervisory Commission (NFSC) report on Vietnam’s economic and financial performance in the first nine months.

The Dollar Index, low inflation, good G-bonds sales, high credit growth and bad debt settlements are the key factors which can send interest rates down, according to Tuoi Tre Online newspaper.

Inflation might be curbed at below 4%. Government bond sales have also met over 80% of the full-year plan and the current bond yield is 1-1.5% lower than in the beginning of 2017.

Bad debts are being settled in line with the National Assembly’s Resolution 42. Data of NFSC shows that as of late September, loans had increased 11.5% compared to late 2016.

Medium and long-term loans continued to drop and accounted for 54% of the total.

Real estate investment and construction loans fell slightly from 17.1% in December 2016 to 16.8% in late September 2017. Particularly, construction loans accounted for 10.3% while real estate credit made up 6.5% of the total.

The proportion of loans for household production rose sharply from 11.2% in late 2016 to 15.7% in late September 2017.

Loans for agro-forestry-fisheries and retail declined.

According to NFSC, capital mobilization in January-September grew 1.2% compared to late 2016. As of September, the average Vietnam dong deposit rate edged down 0.03-0.05% per year compared to late June 2017 and remained unchanged from early 2017.

Loan interest rates fell slightly, especially for priority sectors. Interest rates inched down 0.5-1% per year for priority sectors and 4-5% per year for prestigious clients.

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