In January 2024, the interest rate for VND deposits by credit institutions in Hanoi ranged from 0.1-0.5% per year for non-term deposits and deposits with terms less than 1 month; 2.9-3.8% per year for deposits with terms from 1 month to less than 6 months; 3.5-5.5% per year for deposits with terms from 6 months to less than 12 months; and 5.1-5.8% per year for deposits with terms of 12 months or more.
The average lending rate for new and existing loans ranged from 8.2-10.3% per year. The maximum short-term lending rate in VND for certain priority sectors (agriculture, rural areas, exports, small and medium-sized enterprises, supporting industries, high-tech application enterprises) averaged around 3.8% per year as stipulated by the State Bank of Vietnam.
As of the end of January 2024, the total mobilized capital of credit institutions in Hanoi was estimated at 5.23 quadrillion VND, an increase of 0.9% compared to the end of 2023. Deposits reached 4.62 quadrillion VND, up 1%, while the issuance of valuable papers reached 609 trillion VND, up 0.6%.
Regarding credit activities, as of the end of January 2024, the total credit debt in Hanoi was estimated at 3.48 quadrillion VND, an increase of 1% compared to the end of 2023. Short-term loans accounted for over 1.4 quadrillion VND, up 1.1%, while medium and long-term loans reached over 2 quadrillion VND, up 1%.
As of the end of January 2024, the non-performing loan ratio of credit institutions in the city was 1.98% of the total outstanding loans. The liquidity situation of credit institutions in Hanoi is ensured.
Hanoi has the highest amount of bank deposits among provinces and cities in Vietnam. According to statistics at the end of November 2023, deposits at credit institutions in Hanoi reached over 4.44 quadrillion VND. Meanwhile, the total deposits system-wide in the country were 12.85 quadrillion VND. Therefore, Hanoi’s deposits accounted for 34.5% of the total deposits in the country.
