The total payment means by December 19 rose by 15.65 percent, whilecredit rose by 11.8 percent against late last year, announced the StateBank of Viet Nam (SBV).
These increases helped the bankingindustry to meet its targets set earlier this year, the SBV disclosedduring its regular meeting in Hanoi on December 23.
Moreover,deposits during December still increased by 15.5 percent despite thedeposit interest rate cut of 1.5-2 percentage points against the sameperiod last year. Of the total, the Vietnamese dong deposits rose by16.31 percent.
SBV Monetary Policy DepartmentDeputy Director Do Thi Nhung announced that credit rose by 11.8 percentby December 19. Moreover, the growth rate for the entire year isestimated to reach approximately 13 percent. This value meets the 12-14percent annual credit growth target.
The centralbank disclosed that lending this year had been positively orientedtowards production and trading, especially in the five prioritisedindustries of agriculture, exports, supporting industries and small- andmedium-sized enterprises (SMEs), as well as Hi-tech businesses.
SBV Credit Department Director Nguyen Tien Dong revealed that lendingto the high-tech agriculture and rural development industry by the endof this year was estimated to rise by 16 percent, while lending to SMEswould surge by 14 percent.
The lending interestrate this year has declined by approximately 2 percentage points, whichbrings the rate to the level attained during the 2005-06 period.
Commercial banks have also cut rates for previous loans. Currently,loans with lending interest rates of more than 15 percent and 13 percentaccount for roughly 3.9 percent and 10.65 percent of loans offered,respectively. These values are lower compared with the 6.3 percent and19.72 percent recorded in December last year.
Thecentral bank also officially targets a credit growth rate of 13-15percent for next year in accordance with the government's targets forGDP growth, inflation control and capital demand and supply.
Vietnam Asset Management Company Deputy General Director Doan VanThang announced during the meeting that the company had bought 123trillion VND (5.774 billion USD) of non-performing loans (NPLs) byDecember 23, of which, 4 trillion VND (187.79 million USD) had beenresolved.
However, Thang shared that morecomprehensive measures and closer co-ordination between relevantagencies must be adopted to better handle the NPLs without the use ofthe state's budget capital.-VNA
These increases helped the bankingindustry to meet its targets set earlier this year, the SBV disclosedduring its regular meeting in Hanoi on December 23.
Moreover,deposits during December still increased by 15.5 percent despite thedeposit interest rate cut of 1.5-2 percentage points against the sameperiod last year. Of the total, the Vietnamese dong deposits rose by16.31 percent.
SBV Monetary Policy DepartmentDeputy Director Do Thi Nhung announced that credit rose by 11.8 percentby December 19. Moreover, the growth rate for the entire year isestimated to reach approximately 13 percent. This value meets the 12-14percent annual credit growth target.
The centralbank disclosed that lending this year had been positively orientedtowards production and trading, especially in the five prioritisedindustries of agriculture, exports, supporting industries and small- andmedium-sized enterprises (SMEs), as well as Hi-tech businesses.
SBV Credit Department Director Nguyen Tien Dong revealed that lendingto the high-tech agriculture and rural development industry by the endof this year was estimated to rise by 16 percent, while lending to SMEswould surge by 14 percent.
The lending interestrate this year has declined by approximately 2 percentage points, whichbrings the rate to the level attained during the 2005-06 period.
Commercial banks have also cut rates for previous loans. Currently,loans with lending interest rates of more than 15 percent and 13 percentaccount for roughly 3.9 percent and 10.65 percent of loans offered,respectively. These values are lower compared with the 6.3 percent and19.72 percent recorded in December last year.
Thecentral bank also officially targets a credit growth rate of 13-15percent for next year in accordance with the government's targets forGDP growth, inflation control and capital demand and supply.
Vietnam Asset Management Company Deputy General Director Doan VanThang announced during the meeting that the company had bought 123trillion VND (5.774 billion USD) of non-performing loans (NPLs) byDecember 23, of which, 4 trillion VND (187.79 million USD) had beenresolved.
However, Thang shared that morecomprehensive measures and closer co-ordination between relevantagencies must be adopted to better handle the NPLs without the use ofthe state's budget capital.-VNA
