According to data from the Hanoi Stock Exchange, banks have issued 13 bond lots since the beginning of the month, mobilizing nearly 15,000 ty dong.
The average issuance interest rate reached 8.5% per year, a 0.2 percentage point decrease from last month. Many bond lots offered interest rates around 7.8-8%, mainly from two state-owned banks, Vietcombank and BIDV. Among private banks, TPBank led with a fixed rate of 9.1% for a three-year bond.
The market is showing signs of easing after a period of rapid increase, which saw the average interest rate last month climb to 8.7%, the highest in many years. This situation stemmed from competitive pressures for capital and the need to balance credit growth. With traditional deposit channels facing difficulties, many banks shifted to the debt market for medium and long-term capital.
Some banks accepted higher mobilization costs to offset capital shortfalls. For example, Sacombank offered a fixed rate of 10% per year to attract over 3,600 ty dong, while PVCombank offered 9.8%. These rates were several percentage points higher than some long-term savings deposit products.
Bonds are debt securities that banks use as a tool to supplement medium and long-term capital, supporting lending and business operations. Banks commit to paying interest and principal to investors (bondholders) according to pre-agreed terms.
Institutional investors primarily absorb bank bonds. These investors include securities companies, insurance companies, investment funds, or businesses with idle cash flow.
According to Cao Viet Hung, Director of Banking Sector Analysis at ACB Securities Company (ACBS), banks increased bond interest rates by about 3 percentage points compared to the same period last year and 2 percentage points since the beginning of this year.
Hung forecasts that interest rates will remain volatile until the end of the year due to unpredictable factors like global geopolitical conflicts and oil price movements. However, he expects "interest rates to have room to cool down" thanks to policies from the State Bank of Vietnam and the Ministry of Finance, which help ease system liquidity. A weakening US dollar due to cooling inflation in the US also provides more room for regulators to buy foreign currency and inject money into the market.
