Thursday, May 23, 2024 4:47:41 PM - Markets open
VN-INDEX 1,281.03 +14.12/+1.11%
HNX-INDEX 246.91 +1.76/+0.72%
UPCOM-INDEX 95.17 +0.47/+0.50%
Liquidity of banking system forecast to be abundant in Q4 2023
Vietnam News - 10/16/2023 4:21:57 PM
 (0 ratings. You must sign in to rate.)
Credit institutions expect liquidity of the banking system will be abundant in the fourth quarter of 2023, and deposit and lending interest rates will continue to decrease.
 
The forecast was based on a survey of business trends among credit institutions in the fourth quarter of 2023 released recently by the State Bank of Vietnam’s Department of Forecasting and Statistics.
 
According to credit institutions, the liquidity of the banking system in the third quarter of 2023 continued to maintain a good and improved status compared to the second quarter of 2023. Credit institutions predict that the liquidity situation will continue to be abundant in the fourth quarter of 2023 and for the whole year 2023 compared to 2022.
 
Credit institutions also expect the average deposit and lending interest rates in the banking system to continue to decrease by 0.26-0.35 percentage points in the fourth quarter of 2023.
 
As expected in the June 2023 survey, at this survey period, credit institutions said they continued to adjust and reduce the average price of their products and services. In general, compared to 2022, the average price of products and services in 2023 is forecast to decrease significantly, but may increase slightly in 2024 because service fees are expected to slightly increase while marginal interest rates are expected to continually decline.
 
The survey also showed capital mobilisation across the entire banking system is expected to increase by an average of 3.2 per cent in the fourth quarter of 2023 and increase by 8.7 per cent in the whole year, adjusted down compared to the 10.6 per cent expectation recorded in the previous survey. Outstanding loans of the banking system are expected to increase by 4.6 per cent in the fourth quarter of 2023 and increase by 12.3 per cent in 2023, adjusted down by 0.2 percentage points compared to the 12.5 per cent forecast in the previous survey.
 
According to the survey, credit institutions predict that customer demand for banking services may further improve in the fourth quarter of 2023 due to expectations of a more positive economic situation, and a gradual rebound of manufacturing and export sectors, in which loan demand is expected to improve more than deposit and payment demand.
 
For the whole of 2023, customer demand for banking services is forecast to increase at a slower rate compared to 2022. — VNS
 
Read original article here
Newer News
22/05 Finance ministry works with S&P on sovereign credit rating
13/05 Central bank's bid to stabilise gold market hits snag
08/05 Proposal of compulsory non-cash payment for gold transactions controversy
08/05 Three bidders win gold auction at high price
06/05 Bank deposits decline for first time in over two years
06/05 SJC gold price hits all-time high
24/04 Two bidders win the first gold auction this year
24/04 HCM City seeks to draw remittances in infrastructure
24/04 HCM City could issue bonds for overseas Vietnamese to fund infrastructure: conference
19/04 Overseas remittances to HCM City record highest increase in three years
Older News
12/10 Liquidity of private placement for corporate bonds doubles in Sept
11/10 Liquidity of private placement for corporate bonds doubles in Sept
10/10 Savings interest rates continue to fall
10/10 Race to lower deposit interest rates to continue until year end
25/09 Corporate bond market focuses more on quality
11/09 Banks made big profits from foreign exchange business
09/09 Borrowers benefit from new lending policy
06/09 Low credit growth, reducing profit put pressure on bank prospects in 2023
06/09 Bank loans to real estate business rise in H1 2023
25/08 SBV fixes law in favour of economic growth
 
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,281.03 +14.12/+1.11%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.