Total lending by all credit institutions grew 6.45% in the first eight months of this year, the State Bank of Vietnam (SBV) has reported.
Loans in Vietnamese dong increased by 10%, with interest rates falling by 3-5%. Foreign currency loans fell by 11.55% in line with national anti-dollarisation policies, it said.
At the end of August, loans with interest rates of 13% or less accounted for nearly three-quarters of all lending, up 41.6% compared to the end of 2012. 17% of loans had interest rates of 13-15%, down 29.3%.
Loans with interest rates over 15% made up just 8% of the total, a drop of 20.6% from the figure at the end of 2012.
The SBV said lending continued to concentrate on prioritised sectors that assisted the production and export of the country’s major products, such as rice and seafood, and those that helped bring in significant amounts of foreign currency.
Lending for home purchases and rentals was increased in the hope of propping up the ailing property market, but the effect was limited.
By August 31, commercial banks had issued registered housing loans worth US$5.02 million to individual customers, of which about US$3.3 million had been disbursed. For businesses, they registered loans worth US$33.71 million, but disbursed only US$2.12 million.
In the eight-month period, total deposits at credit institutions increased by 10.5%, despite a 2-3% decline in deposit interest rates.
Deposits in foreign currencies rose significantly by 7.23% despite official commitments about the dollar/dong exchange rate stability, while deposits in dong were up around 11%.
According to the SBV, total money supply in the economy increased by 9.16% in the first eight months, in line with the 2013 target of 14-16% money supply growth.
(Source: VNA)
Đăng ký: VietNam News
