There were 12 commercial banks having had successfully issued bonds with a rate of up to 99.6 percent, or VND56 trillion in the first eight months of this year. Particularly, 11 banks issued successfully 100 percent, only Seabank failed to sell out two lots. Among these banks, five banks, which had the highest amount of bonds issued, accounting for more than 80 percent of total bond value, included VPBank with VND13.86 trillion, of which there were US$300 million worth of international bonds, HDBank with VND11.6 trillion, ACB with VND7.85 trillion,VIB with VND6.45 trillion and LienVietPost Bank with VND6.1 trillion. Most of bonds of commercial banks have terms of 2-3 years with interest rates at 6.5-7.3 percent per annum. Noticeably, up to 40 percent of bonds issued by banks was bought by securities companies. However, according to SSI Securities Company, the amount of bonds bought by securities companies was much higher than their capital scales. Securities companies themselves have also had to issue bonds to mobilize capital so it is possible that securities companies are intermediaries. Moreover, because average interest rate was at 6.72 percent per annum, just same as mobilizing interest rates of large commercial banks, the group with lowest… Read full this story
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