Bank figures show decline in high-interest debit balance

The State Bank of Vietnam announced on September 7 that according to the latest figures, outstanding loans with interest rates above 15 percent per annum were on the decline.

Figures collected from 69 credit institutions that accounted for 90 percent of credit market share, showed outstanding loans in Vietnamese dong at interest rate less than 10 percent per annum were proportionately 5.4 percent; those with interest rate from 10-13 percent per annum accounted for 20.1 percent; those with interest at 13-15 percent per annum accounted for 49.7 percent; and those with an interest rate above 15 percent per annum accounted for 22.7 percent.

Thus, the proportion of outstanding loans with interest rates above 15 percent per annum dropped by 71 percent compared to before July 15, 2012, and fell by an additional 1.9 percent compared to that in August 16, 2012.

Interest rate declined the most in the group of five state-owned commercial banks, whose proportion of outstanding loans with interest rates above 15 percent per annum was 5.8 percent, a decline of 91 percent compared to before July 15, 2012.

By H.Yen – Translated by Thuy Doan

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