Vietcombank received the largest proportion of the deposits, at nearly 165.1 trillion dong, three times higher than the end of September. The State Treasury’s deposits at Vietcombank included a recent State divestment deal from Sabeco, worth US$5 billion, or more than 113 trillion dong. The Treasury also deposited nearly 11.1 trillion dong in Vietinbank by the end of last year. “The slow disbursement of public investment helped increase the State Treasury’s deposits in commercial banks, reducing pressure on interest rates,” it said. Earlier, bonds with a tenure of 30 years were mainly bought by insurance companies, but last year saw a drastic shift when banks bought nearly 15 trillion dong out of 28 trillion dong worth of 30-year bonds.

Source: The Nation Bangkok February 06, 2018 18:06 UTC