HCMC’s outstanding loans up

Created 02 January 2018
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Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5 per cent from 2016 to more than VNĐ1.74 quadrillion (US$76.73 billion), according to the State Bank of Việt Nam’s HCM City branch.

 

A member of staff at a branch of the Joint Stock Commercial Bank for Foreign Trade of Việt Nam. — VNA/VNS Photo Trần Việt

HCM CITY — Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5 per cent from 2016 to more than VNĐ1.74 quadrillion (US$76.73 billion), according to the State Bank of Việt Nam’s HCM City branch.

Figures from the State bank’s branch also show total mobilised capital of credit institutions in the southern metropolis was VNĐ2 quadrillion, an increase of 15 per cent year-on-year.

Lending rates for short-term loans in five prioritised sectors of agriculture, exports, supply-parts industries, small- and medium-sized enterprises and hi-tech businesses last year were kept at around 6-6.5 per cent, down 0.5 percentage points compared to the end of 2016.

Several lenders in the city said their 2017’s targets have all been reached. In particular, the retail sector showed great potential to grow faster in the new year.

Deputy Governor of the State Bank of Việt Nam Đào Minh Tú urged commercial banks in the city to closely watch the market to ensure timely lending to firms in order to help them boost production and cover expenses for import and export of goods to meet the demands of consumers for the upcoming Tết (Lunar New Year) holiday.

In addition, banks should ensure enough cash for ATM withdrawals during the holiday, he added. — VNS

 

Source: VNN

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