Study on the theoretical basis of banking activities, understand thoroughly retail operations of commercial banks Base on study and analysis of practical activities of SeABank, to point out strengths, weaknesses in its operation to be the foundation for putting forth appropriate solutions Propose new strategy: Retail strategy and implementation solutions, recommendations to regulators and for the bank to run business sustainably. REAL SITUATION SEABANK
SOUTH EAST ASIA BANK – RETAIL BANKING STRATEGY IN PERIOD 2015-2020 INTRODUCTION The necessity of the topic The great majority is of the opinion that enterprises benefit from favorable conditions in the course of international economic integration And yet it is practically until the US - originated global crisis came about What is notable here is not that people were unconscious of the challenges in the process of economic integration but it is that these challenges were not deliberated appropriately Vietnam’s accession to WTO in general and to the global Finance – banking market in particular has leaded to significant evolvements The economic growth was of considerably high rate People’s living standards were gradually improved Banking system became more dynamic and competitive All economic sectors, foreign economic institution had opportunities to participate more deeply into all sectors of the economy and contribute more to the economic development in accordantly with Government’s policies Nonetheless it also challenged local economic organizations The ongoing economic crisis started in the end of 2007 in the US real estate market So far, more than 40 banks in USA went bankrupt, merged The new government of President Barack Obama launched the so called “Great Reform” for the financial and banking system in order to restrict the repetition in the future It can be said that this is the biggest ever reform in USA since 1930 Financial institutions themselves have to rebuild their strategies to be in being and developed Though being influenced by the global economic crisis, yet it must be apprehended that the impacts to Vietnam banking system were not as cumbersome as gauged, isn’t it the banking system in Vietnam is better that that of USA and Europe? The answer should be reserved for regulators, policy makers and local banks in Vietnam Be that as it may, the good news is that commercial banks in Vietnam began to build, rebuild their visions and strategies for existence and better development in the period of fierce competition and crisis Being one of the rather old in commercial Joint stock banks in Vietnam, Southeast Asia Joint stock bank (SEABank) has achieved significant results over the past years Year 2008 flagged an important milestone: The leading bank in French, Societe Generale became strategic shareholder with the stake of 20% (the highest rate currently applicable for foreign financial institutions) With its international expertise, Societe Generale was expected to bring in a new gust of wind in management, administration and business for SeABank Through study and research, we remarked that though SeABank has reached some substantial achievements, nevertheless, impacts from the crisis as well as difficulties in financial – money market recently has revealed some certain shortcomings, particularly in defining long term strategy With our cognition, we believe that it is essential to build up and orient a new strategy for SeABank That was the premise to found “Retail strategy of Southeast Asia Commercial joint stock bank in period 2015-2020” The purpose of the capstone - Study on the theoretical basis of banking activities, understand thoroughly retail operations of commercial banks - Base on study and analysis of practical activities of SeABank, to point out strengths, weaknesses in its operation to be the foundation for putting forth appropriate solutions - Propose new strategy: Retail strategy and implementation solutions, recommendations to regulators and for the bank to run business sustainably Analysis object and range 3.1 Objective Southeast Asia Commercial Joint stock bank (SeABank), Head Office address at 16 Lang Ha, Ba Dinh, Hanoi and its branches nationwide 3.2 Range The research focuses mainly on retail business activities of the bank, the topic does not address itself to analysis on investment, equity investment, business of gold or immovable properties… Methodology The topic was analyzed both quantitatively and qualitatively all retail operations of SeABank, the research used the data in macroscopic as well as forecast of relating institutions: The World Bank, The International Monetary Fund, Asia Development Bank, The State Bank of Vietnam, the local and foreign specialized banking research, financial statement of local commercial joint stock banks Limits of the topic The retail banking strategy elaboration was rather brief, information relating to the dimensions activities of competitors still restricted Some information was not last updated Structure of the topic Apart from the beginning, conclusion and reference index, the topic comprises of main parts: Chapter Theoretical basis of activities of commercial banks Chapter Reality of Southeast Asia Commercial Joint Stock bank Chapter Proposal on retail banking strategy of Southeast Asia Commercial Joint Stock bank in period 2015-2020 ABBRIVIATION ACB Asia Commercial Bank ADB Asia Development Bank AFTA Asean Free trade Area ANZ Australia and New Zealand Bank ATM Automatic Transfer machine CD Certification of Deposit GDP Gross Domestic Product HSBC Hongkong Shanghai Bank Corporate IMF International Monetary Fund ISO International Standard Organization IT Information Technology LIBOR London Interbank Offered rate L/C Letter of Credit NPL Non Performance Loan ODA Official Development Assistance POS Point of Service QD-NHNN Decision of State Bank of Vietnam SBV State Bank of Vietnam SIBOR Singapore Interbank offered rate SMS Short Massage Service SOCs State owner Companies T.Os Transaction Offices WTO World Trade Organization USD United State Dollar VND Vietnam dong Graph 2.1 GDP Growth Graph 2.2 Consumer price index Graph 2.3 Number of credit institutions at June 2009 Graph 2.4 Capital mobilization breakdown by group of credit institutions 2007 Graph 2.5 Ration of Lending and borrowing to GDP Graph 2.6 Basic, refinancing and discount interest rate in 2009 Graph 2.7 Basic interest rate in period 2005-2008 Graph 2.8 Average interest rates for 12-month-term VND deposits Graph 2.9 Average annual interest rates for VND loans Graph 2.10 Competitors Business performance index Graph 2.11 Shareholding rate of foreign banks in local banks Graph 2.12 Banks network Graph 2.13 Number of ATMs nationwide Graph 2.14 Deposit raising indicators Graph 2.15 Target of credit operations Graph 2.16 Credit structure of SeABank at the end of 2008 Graph 2.17 Credit structure of SeaBank at June 2009 Graph 2.18 SeABank profit after tax to achieve Graph 2.19 SeABank credit split by customers and Economy field Graph 2.20 SeAbank network till the end of 2008 Graph 2.21 Forecast on GDP growth Graph 2.22 Forecast on Vietnam’s average per capital income Graph 2.23 Forecast on Vietnam’s Inflation till 2011 Graph 2.24 Forecast of unemployment rate of Vietnam till 2011 Graph 2.25 SeABank Targeted customer in period 2015-2020 Graph 2.26 SeABank network development plan Graph 2.27 Percentage of population coverage of SeABank CHAPTER THEORETICAL BASIS OF COMMERCIAL BANK’S ACTIVITIES Bank and its roles The foundation history of bank is associated with the history of development of the commodities economy, when K.Marx’s political economy study pointed out that the commodities economy development, to some magnitude, shall naturally bring to the demand of exchanging commodities between individuals and organizations in the society Money plays the intermediary role of trading and it is issued and secured by the State Money is a special commodity, consequently, bank - money management institution is the term that associated with money In the development process, there are many definitions of commercial banks that different over countries However, the general understanding of bank: Commercial bank is an organization specialize its business in monetary operations among which the main operation is deposits, loans an intermediary settlement In Vietnam, according to article 20 of Credit Institution Law (amendments, supplement to some article dated June 15 2004 of the National Assembly of The Social Republic of Vietnam) defined: “Bank shall mean accredit institution permitted to conduct all banking activities and other related business operations Depending on their natures and purposes of their operations, banks may consist of different types, such as commercial banks, development banks, investment banks, policy banks, cooperative banks and other types of banks” “Credit institution shall mean an enterprise established in accordance with this law and other applicable laws providing banking operations” This law also defines clearly: “Banking activities shall mean monetary business and banking services, the regular operation of which is receipt of deposit and use the same to extend credits and provide payment services” “Extension of credit shall mean an act of commitment by a credit institution to the use of a sum of money on the principle of repayment through the operations of providing loans, discount, finance leasing, issue bank guaranty and others” Through those concepts, banks obviously play an important role in the economy With the role of financial intermediary, commercial banks help to extend the saving money of individuals and organizations of the economy to credits for the other objects On the other hand, it is also the mediator to extend credits of sovereign bonds to community programs Banks take the role of providing biggest credits to all economic constituents in short, medium and long term The role of payment intermediary: in the place of client, bank makes payment to seller by issuing cheques, bonds … and electronic payment system The role of guarantor: in the place of client, bank makes commitment to seller to make payment even if purchaser falls to insolvency What is a retail bank? First it must be affirmed that though the operation of banking business is upper-class and service of special characteristics compared of other kinds of services Even so, terms “wholesale” and “retail” remains in the common principles: The differentiation of wholesale and retail originates from the purpose of purchaser which directly influence sale “process” and price If he purchases for daily living or production for himself or his family, even for his company, then it is for consumption In this case, the seller who sells directly to consumer is called retailer On the contrary, if purchaser resells goods to other people, then he is called intermediary purchaser – purchase for sales In this case, the original seller is called wholesaler of level Consequently, there are wholesalers of level 2, level As a matter of fact, wholesale price is always lower than retail price at the same time and the same market According to economic expert of Asia Technology Institute -– AIT, retail banking provides products and services individuals, small and medium enterprises via network of outlets Customer can have direct approach to banking services and products by electronic communication and information technology So it can be assumed that retail bank is the bank that provides its products and services to individuals and medium and small enterprises via its distribution network and this operation take a big proportion in bringing the revenue and profit for the bank Main operations of the bank 3.1 Capital Mobilization Capital mobilization is one of the most important operations commercial bank This operation brings capital so that bank can conduct other operations such as extension of credits and banking services to clients Looking at the balance sheet of bank we can see that the capital mobilization operation is represented in Liabilities, thus this operation is also called Liabilities mobilization This operation is performed through deposit activities (either in local or foreign currency), specifically: 3.1.1 Capital mobilization by demand deposit This is the form by which bank can mobilize capital by opening a current account for customer This account serves for the demand of payment via bank On waiting, the dormant capital that is shown in account balance can by used by bank for its business activities 3.1.2 Capital mobilization by individual deposit This is the form by which bank can mobilize capital by individual accounts, this account serve for those who demand for receiving money transferred to their account: monthly payment of salary, receive money transfer from abroad or domestic individuals On receiving money, account shall be “credited”, when account holder withdraw money, account shall be “debited” The spread between “Credited” and “Debited” is shown in account balance and bank can mobilize capital by this activity 3.1.3 Capital mobilization by Savings Individuals and organizations may have idle money in their operations To make these money active, bank design its system of products in order to absorb these idle funds meanwhile profit clients as they still have no intention to use the funds as well as secure the money Normally, bank design deposit products by terms such as: non –term, weekterm, month-term, year-term … with corresponding interest There are many methods for mobilization by savings: balance based (higher interest for higher balance), or based on kind of currency (local or foreign) or based on target customers 3.1.4 Capital mobilization by issuing value papers 10 sales with the principles: salary based on sales of product, the more products, services sold, the higher bonus is However, SeABank should build system of grading, norms of grading for each type of product, service depending on the significance of each product, service or basing on the objectives of each period Outsourcing should not be limited in terms of amount As mentioned above, the retail operations are mainly targeting individuals, SMEs, therefore, if we not have a good distribution channel to increase the customer base, the business result of SeABank will be greatly affected Therefore, when we shift to retail banking strategy, a sale promotion strategy is needed inside and outside of SeABank to quickly increase the customer base as well as the turnover brought about by new customers, thus avoiding big impact on the business results by shifting away from concentrating only in big customers Quick increase of SMEs customers is also a way to reduce risks Through studies, we found out that it’s necessary to group products and services for calculation of commissions in sale policy and outsourcing policy Electronic banking products group (SMS, SeAnet, Mobibanking, domestic debit cards, current accounts) Credit, individual saving, enterprise deposit product group (fiduciary loan, car loan, housing loan, overdraft, credit card, factoring, L/C ) Domestic and international settlement services, cash transferm payment order, collection order By the above mentioned grouping, we can base on the contributions to turn over and profit to define the appropriate weighted ratio in order to both stimulate the staff, and to assure the benefit of the bank 66 Enhance the use of IT system in credit activities With a modern base of technology system, SeABank should study on the method of documents validation and transfer via Internet Validation via software system helps to enhance the performance efficiency, time-saving objectives, and managers can specify the obstacles to have timely solution as well Currently, the level of IT application is still low, loans, appraisals and customer portfolios are mainly circulated by hard copies This caused a lag in timing for document circulation Therefore, we need to apply IT in such operation as: Online registration at SeABank website for account opening, service registration, customer portfolios Internal circulation of documents relating to customer portfolios should be scanned and sent via internet (intranet) to reduce waiting time for the customers as well as document handling time Application approval by a software which define different processes by each products and services Build up a Call center Call center is the point to communicate with customers via IT system Call center is also a new sale channel of SeABank According to our experience, Call center system should be built based on the model including: Interactive voice respond: helps customers to get the most fundamental information such as: mobilized interest rate, transaction procedure with Bank, locations of ATMs … The calls of customers to IVR are all free of charge 67 Operator system: helps to meet the demand of customers at a higher level such as: money transfer, personal financial consulting service, account checking… For these services, customers have to pay fee By receiving customers’ information, Call center coordinate sales activities basing on customers’ demand on products, services Call center can require business development officers, customer relationship officers at the branches nearest from addresses of customers to satisfy the demands on products, services supplied by SeABank Presently, there are several options for Call Center development, such as: outsourcing, self developed For SeABank, during the period of 2015-2020, our team think that with the characteristic of banking industry of social sensitivities of financial information, SeABank has to self develop its Call Center system to serve the customers Call Center staff can support customers to transfer money from the account without having to come to the bank, provide advices on products and services, etc To such, SeABank can have a better control during the initial period of operation After a certain time, we can consider outsourcing if there is a considerably increase in customer base Apply quality management system ISO 9001:2000 for the first step, in the coming time, aim to Total quality management system(TQM) Building up and applying quality management system is highly important In the coming time, SeABank needs to apply the quality management system as ISO for the first step Process of building up and applying the quality management system is also the period when SeABank checks and rebuilds standardization and controllability 68 its processes system under Applying Total quality management system (TQM) is a progress that the SMEs need to aim to; quality management is not just at the standards in ISO 9001:2000 – requirements, but the total, overall quality management system in every activity of the Bank also Consequently, it is secured that the quality of products, services supplied by SeABank is strictly under control; SeABank’s image of professionalism, good quality of services is always in customers’ mind Human resources training and development People are one of the key factors deciding the success or failure of an organization, developing the human factor is improving that organization also In SeABank, all the staffs have been well trained; they are young, dynamic but inexperienced Consequently, it needs to have specific training strategies: For specialized staffs: they must be basically trained in terms of skills, specialist knowledge in order to efficiently perform the tasks assigned For middle management: SeABank should have aim its training to adjacent staffs by means of local and overseas training, coaching programs on management After the training, it is necessary to unhesitatingly assign tasks with higher requirements to challenge and apply knowledge into practice With Societe Generale become a strategic parper of SeABank, and full time expatriates in SeABank in different area, we think that training for SeABank should be organized as follows: Training courses for staff including supervisors, TO managers and deputies, Individual managers and deputies, SMEs managers and deputies in branches Those training courses are organized with the participation of permanent SG expatriates 69 for different areas The purposes of such trainings are for the expatriates to transfer international knowledge and experiences in management and customer services which are appropriate with Vietnamese market Send Branch managers and deputies, managers and deputies of HO departments and units to European or Asian countries where SG branches are located to learn organization, management and governance experiences Beside, it is necessary to send staff to long term training courses abroad, such as Financial and Banking MBA to step by step develop the next generation of managements in SeABank II Suggestions Commitments from SeABank highest levels of management: Retail strategy needs to be deployed thoroughly, consistently over the entire network system In the initial period, profit is not the priority target, rapid development in the number of customers, product portfolio, network system are key points Using derivative instruments to reduce risks: SeABank should have specialized part subject to treasury and foreign currency business division to implement the tasks concerning derivative services such as: swaps, forwards, futures, options Deployment of these services helps SeABank minimize risks relevant to exchange rate, interest rate concerning foreign currency Building up the individual and SME credit rating: In performing retail banking strategy in SeaBank through concentrating on individual, SMEs of all economic sectors, SeABank may face the following risks: Risk in appraising customer financial capabilities The fast development of individual and SMEs customers may lead to 70 loosening the appraisal of customer application, or mistakes in appraising financial capabilities and reputation by staff, thus decision to grant loans or products or services might be made to customers with not good financial conditions or not qualified customers Risk of bad debts (debts from group and above as regulated by SBV) In Vietnam, only 10% inhabitants have an account with bank, and cash using habits are still popular Therefore, it is difficult to control customers’ cash flow as well as upon job changes The more number of customers, the more difficult in controlling their cash flow Therefore, SeABank must have to develop a scoring system to appraise customer creditability This is a relatively efficient tool which is the initial base for SeABank to decide to approve or refuse a credit application Apart from that, the individual and SME credit rating also helps SeABank build suitable preference policy for each rating of the customer, strengthen the relationship between SeABank and customers 71 CONCLUSION “Southeast Asia Bank – retail banking strategy period 2009-2010” capstone focuses on considering theory and practical issues concerning banking activities, especially retail activity Basing on qualitative and quantitative analyses of the Bank’s activities, defining difficulties of retail deployment at Southeast Asia Bank, we propose a strategy for retail banking period 2015-2020 Contents achieved of the capstone include: Thoroughly knowledge of the Bank as well as commercial banks’ activities, products, services which the Bank supplies such as: capital mobilization products, credit products, modern banking products, services, payment services, guarantee services… to individuals and SMEs in the economy Capstone specifies the concepts of a retail bank and retail banking activities, such are quite new in Vietnam By means of qualitative and quantitative analyses on financial and currency market in Vietnam, results achieved together with system of products, services of the Bank, we realize that to have efficient retail banking activities, SeABank should diversify its products and services portfolio for individuals, SMEs, step by step deploy the development of products for specialized customers Concurrently, network development and expansion need to be deployed consistently and selectively This capstone also raises some suggestions and solutions for the government, bank regulating agency and Southeast Asia Bank also, specifically as follow: a) Complete legal corridor for banking operation; b) strengthen the use of currency tools in association with macro fiscal policy in order to regulate the market, avoid regulating by means of administrative command; c) 72 Manage a flexible price policy but still be under controlled; d) Commitment from SeABank management in implementing retail banking strategy; e) use derivative tools to minimize risks and establish credit rating system on individuals and SMEs This capstone also provides some solutions in order to successfully perform retail strategy 73 FORWORD CHAPTER THEORETICAL BASIS OF COMMERCIAL BANK’S ACTIVITIES Bank and its roles What is a retail bank? Main operations of the bank 3.1 Capital Mobilization 3.1.1 Capital mobilization by demand deposit 3.1.2 Capital mobilization by individual deposit 10 3.1.3 Capital mobilization by Savings 10 3.1.4 Capital mobilization by issuing value papers 10 3.1.5 Mobilization from other credit institutions 11 3.2 Credit operation 11 3.3 Settlement and remittance operations 12 3.4 Guarantee operations 12 3.5 Modern banking activities 13 3.5.1 Card issuance (Payment, credit, associated ) 13 3.5.2 Internet Banking 13 3.5.3 Mobile Banking 14 3.5.4 Call Center 14 Other operations 14 3.6 CHAPTER REAL SITUATION SEABANK I Real situation of SeABank 15 History and some outstanding achievements 15 Competitive environment 17 2.1 Macro environment 17 2.2 Industry environment 20 2.3 Competitors 2.3.1 29 Product policy 31 74 2.3.2 Interest rate policy 33 2.3.3 Network and ATM system 35 SeABank’s Internal Strengths 37 3.1 Products and Services for individual and SMEs 40 3.2 Interest rate Policy 42 3.3 Network of SeABank at the end of 2008 43 3.4 Advertising and Publicity activities 44 SWOT 44 4.1 Strengths 44 4.2 Weaknesses 46 4.3 Opportunities 47 4.4 Challenges 48 II Proposal on retail strategy of SeAbank in period 2015- 49 2020 Economics characteristics of Vietnam 49 1.1 Advantage 50 1.2 Disadvantage 50 A few forecasts 51 Retail banking strategy in period 2015-2020 55 3.1 Outlook of strategy establishment 55 3.2 Strategy Target 55 3.3 Component strategies 55 3.3.1 Strategy for products and services 55 3.3.2 Policy on interest rate 58 3.3.3 Policy on network development 60 3.3.4 Policy on promotion and expansion 62 3.3.5 Policy on customer care 62 CHAPTER I SOLUTIONS AND SUGGESTIONS Solutions 63 75 Restructure the organization model from Head Office to 64 Branches Build a system of sales strategy 65 Enhance the use of IT system in credit activities 67 Build up a Call center 67 Apply quality management system ISO 9001:2000 for the 68 first step, in the coming time, aim to Total quality management system(TQM) Human resources training and development 69 II Suggestions 70 Commitments from SeABank highest levels of 70 management Using derivative tools to reduce risks 70 Building up the individual and SME credit rating 70 72 Conclusion 76 Reference documents Nguyen Minh Kieu (2007) ,“Modern banking activity management”"- Doctor of Hochiminh Economic University, lecture of Fulbright program Nguyen Thi Mui(2006),“Commercial Bank management” – Ph.D, Finance Institution Tran Ngoc Tho (2003), “Finance Corporation” – Doctor, Hochiminh Economic University Nguyen Van Tien (1998), “International Finance and open Economy macroeconomics”, PhD, Banking Institution Nguyen Van Tien (1999), Foreign Exchange and Money markets”, PhD, Banking Institution Frederic S.Mishkin (1995) “Monetary, banking and finance market” Alex Sycara-Lewis (2008), “A look at Vietnamese and US Banking systems” Decision No 1626/NHNN (2001), “Credit Institution Principle of Loan”, State bank of Vietnam Decision No 463/NHNN(2005), “Non Performance Loan Spilt and recover fund”, State Bank of Vietnam 10 Decision No 13/NHNN(2008), “Network development of Bank Principle”, State Bank of Vietnam 11 Decision No 16/NHNN (2008), “Bank ranking”, State bank of Vietnam 12 Basel II (July, 2003), “Capital Agreement”, Banking supervision Basel Committee 77 13 Vietnam Assembly Parliament (2006), “Credit Institution Law”, Social and Labor Publisher 14 State bank of Vietnam (2005,2006,2007,2008), “Annual Report” 15 Annual Report 2005,2006,2007,2008 of banks in Vietnam 16 SeABank (2006,2007,2008), “Annual report”, “report for management” 17 IMF (Nov, 2008), “Asia Economic outlook” 18 IMF (April, 2008), “Vietnam index period 1996-2007” 19 IMF (2008), “Making the global Economy work for all” 20 IMF (Sep, 2008), “Finance and Development” 21 IMF (Nov, 2008), “ Regional Economic Outlook: Asia and Pacific” 22 IMF (Oct, 2008), “Global financial stability report” 23 IMF(Oct, 2008), “World Economy Outlook” 24 IMF (May, 2009), “Asia Outlook” 25 World Bank (June, 2008), “Vietnam Economy Analysis” 26 World Bank (April, 2009), “Updated Vietnam Economy performance” 27 World Bank (May, 2009), “Review Vietnam Economy operation” 28 World Bank (March, 2009), “The main indicators of Vietnam Economy period 1996-2007 and forecast to 2015” 29 ADB (April, 2008), “Vietnam staying the Course in storms” 30 ADB (May, 2009), “Vietnam Economy performance report” 31 Baoviet Security Company (July, 2008), “Banking industrial analysis report” 32 Viet Capital Security (July, 2008), “Vietnam banking system – Reality and forecast industrial sector” 78 APPENDIX INTEREST RATE FOR DEPOSIT VND (%/year) Joint Stock Commercial Bank Date offer 01/ 8/0 8/08/ 09 05/0 8/09 28/7/ 09 07/8/ 09 10/8 /09 28/7/ 09 07/8 /09 06/8 /09 07/8/ 09 27/7/ 09 7/8/ 09 23/6 /09 01/7 /09 11/07 State owener Bank 02 /6 /0 15/7/ 30/07 9/6/09 09 A G Vieti VCB R BIDV n I B 10/7 /09 23/7 /09 6/8/0 18/7/ 09 29/7 /09 EXI M TE CH HD B SAC OM AC B 3,00 2,40 3,00 3,00 3,00 3,00 2, 50 2,40 - - - 3,20 - Term MS B SHB SEA B MB VIB SCB HA BU AB B Nav iB NA MA OCE AN OC B VP B Việt Current saving 3,0 2,50 3,60 2,40 3,00 3,60 2,40 3,00 3,00 3,30 2,40 3,00 3,60 3,60 week - 6,00 - 5,00 6,50 5,50 5,60 5,10 6,18 5,60 5,10 5,50 4,50 - week - 6,30 - 5,50 7,20 6,50 6,20 5,60 6,57 6,20 6,10 6,00 5,10 - - - 3,60 week - 6,60 - 6,50 7,70 7,50 7,00 - 7,53 7,20 7,10 7,00 6,51 - - - - 1M 8,2 8,2 8,7 8,20 7,95 7,90 8,05 8,20 8,00 8,00 8,00 8,10 7,85 8,00 8,40 8,16 8,15 8,10 8,30 8,10 8,10 8,10 8,10 7,95 8,10 8,60 8,46 8,45 8,42 8,40 8,35 8,35 8,30 8,28 8,20 8,20 - - - - 8,45 - 8,40 - 8,34 - 8,30 5M - - - - 8,45 - 8,50 - 8,40 - 8,40 6M 9,0 8,90 8,85 8,45 7M - - 8,40 - - 2M 3M 4M 8M 8,70 8,55 8,75 8,70 8,40 8,70 8,50 8,50 - 8,55 8,75 8,73 - 8,70 - 8,50 - 8,55 8,75 - 8,70 - 8,50 7,80 8,10 8,50 - DAB Foreign Bank 03/8 /09 30/7 /09 HS BC STA D 3,00 0,10 1,00 - - - 2,00 - - - - 3,00 - - - - - 7,30 7,00 5,28 6,54 7,40 7,20 5,82 7,04 7,50 7,40 7,45 7,34 - - - - - 6, 70 7, 00 7, 50 7,85 7,74 7,74 7,80 7,90 7,66 7,65 7,15 7,95 7,80 7,80 7,80 7,95 7,87 7,85 7,30 8,10 8,10 8,10 8,10 8,05 8,05 7,95 8,10 8,20 8,22 8,16 7,95 8,45 8,06 - - 8,30 8,36 8,22 7,95 8,60 8,07 - - - - - - - 7,80 76,0 7,74 7,67 - - - - - - - - 8,90 8,65 8,35 8,25 7, 70 8,25 - 8,42 - - - 7,95 8,95 8,43 - - 8,40 8,46 8,46 8,70 8,45 8,46 8,46 8,45 8,49 8,46 9M 8,8 9,05 8,40 8,60 8,60 8,75 8,80 8,50 8,82 8,65 8,60 8,75 8,50 8,52 8,52 8,05 9,00 8,47 8,45 8,50 7, 80 8,00 7,80 8,05 7,78 10M - - - - 8,60 - 8,83 - 8,82 - 8,60 - 8,55 8,52 8,52 7,85 - 8,48 - - - - - - - 11M - - - - 8,60 - 8,85 - 8,82 8,60 - 8,60 8,55 8,52 7,85 9,10 8,49 - - - - - - - 12M 9,1 9,10 8,55 8,65 8,85 8,60 8,85 8,90 8,60 8,91 8,80 8,80 8,20 8,10 8,05 7,81 13M - 9,20 8,55 - - 8,60 8,85 9,00 - 9,12 8,80 8,90 8,30 - - - 8,70 8,60 8,70 8,61 8,58 8,50 8,75 8,64 8,58 8,65 9,20 8,55 8,50 8,70 8, 00 8,60 8,60 - - 15M - - 8,55 - 8,60 8,60 - 9,10 - - - - - - - - 8,65 9,40 8,61 - - 18M 9,2 9,40 8,70 - 8,60 8,60 8,90 9,10 8,60 9,60 9,00 9,10 - 8,80 8,85 8,58 8,70 9,60 8,64 - - - 9,60 9,00 8,80 8,70 8,60 9,20 9,20 8,60 9,81 9,20 9,50 8,85 8,90 9,00 8,60 8,70 9,80 8,90 8,90 8,75 24M 25M 9,7 10, 00 8, 00 8, 00 - - - - 8,40 8,20 - 7,85 - 8,20 - 8,55 - - - - - - - - - - - - - - 8,88 - - - - - - - - - - 9,65 - 8,90 9,00 8,60 - 9,40 9,00 10,02 9,40 9,80 9,00 8,90 9,30 9,00 8,90 10,3 9,00 9,00 9,00 - 8,50 8,20 - 8,75 48M - - 9,00 - 8,60 - 9,45 - - - - - - - - - - - - 9,00 - - - - 60M - - 9,20 - 8,60 - 9,50 8,30 - - - - - 9,36 - - - - 9,00 - 8,50 36M 79 - - USD (%/năm) Date offer Term 05/8/0 SEA B 10/8 /09 16/6/ 09 17/0 7/09 EXI M 22/7/ 09 OCE AN 01/8 /09 MS B `08/8 /09 SCB HDB 0,20 1,00 0,10 0,30 1,00 0,50 SHB 12/6 /09 Việt Á Joint Stock Commercial Bank 17/7 18/7/ 15/7/ 24/6 /09 09 09 /09 TE SAC ACB MB CH OM 17/6 /09 OC B 10/6 /09 HA BU 0,50 0,50 0,30 0,50 0,30 0,20 - - - - - 01/06 07/8 /09 06/8 /09 Nav iB 4/7/0 NA MA 08/6/ 09 DAB VIB 0,25 0,50 0,50 0,25 0,50 - 0,25 - - 0,25 - Current saving 0,25 week 0,50 - 0,50 week 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