Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5 percent from 2016 to more than 1.74 quadrillion VND (76.73 billion USD), according to the State Bank of Vietnam’s HCM City branch.
Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5 percent from 2016. (Photo: saigondautu.com.vn)
HCMCity (VNA) - Total outstanding loans by commercial banks in HCM Cityin 2017 rose 18.5 percent from 2016 to more than 1.74 quadrillion VND (76.73billion USD), according to the State Bank of Vietnam’s HCM City branch.
Figures from the State bank’s branch also show total mobilised capital ofcredit institutions in the southern metropolis was 2 quadrillion VND, anincrease of 15 percent year-on-year.
Lending rates for short-term loans in five prioritised sectors of agriculture,exports, supply-parts industries, small- and medium-sized enterprises andhi-tech businesses last year were kept at around 6-6.5 per cent, down 0.5percentage points compared to the end of 2016.
Several lenders in the city said their 2017’s targets have all been reached. Inparticular, the retail sector showed great potential to grow faster in the newyear.
Deputy Governor of the State Bank of Vietnam Dao Minh Tu urged commercial banksin the city to closely watch the market to ensure timely lending to firms inorder to help them boost production and cover expenses for import and export ofgoods to meet the demands of consumers for the upcoming Tet (Lunar New Year)holiday.
In addition, banks should ensure enough cash for ATM withdrawals during the holiday,he added.-VNA
Outstanding loans of commercial banks in HCM City in the first nine months of 2017 rose 13.5 percent against December last year to more than73.57 billion USD
Consumer loans have increased sharply in Ho Chi Minh City in recent years, said Nguyen Hoang Minh, Director of the State Bank of Vietnam’s HCM City Branch.
Maximum credit growth this year is forecast to be just 18-19 percent, meaning that the banking system will not use up the increased room of 21 percent.
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Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5 percent from 2016.
