City’s credit growth nears 14.6 percent in ten months

The State Bank of Vietnam (SBV)  Ho Chi Minh City reported that credit growth of Ho Chi Minh City estimated to reach  VND 1, 690 trillion in the first ten months of the year, rose 14.59 percent compared to last year, up 19.76 percent compared to the same period of last year.

City’s credit growth nears 14.6 percent in ten months

City’s credit growth nears 14.6 percent in ten months

Loans in Vietnamese dong accounted 90.6 percent, increased 14.65 percent over last year.

Loans in foreign currencies reached VND 158 trillion, accounted for 9.4 percent of total loans and increased up to 14.03 percent in comparison to the same period last year.

Medium and long term credit loans accounted for 53.3 percent of total loans, increased 7.68 percent compared to the same period of last year while the short term credit loans accounted for 46.7 percent, increased 23.65 percent against the end of last year. 

For five priority sectors as agriculture, rural, export, supporting industry, small- medium enterprises and high- technological application enterprises, the short term loans in Vietnamese dong reached VND 152.7 trillion. 

Of the total  capital, more than 50 percent is for small- medium enterprises, estimated at VND 98. 4 billion accounted for nearly 64.4 percent of total loans.

Capital mobilization of credit institutions in the city grew by VND 1.98 million, increased 11.4 percent over the end of last year (lower than credit loan) and increased nearly 14 percent compared to the same period last year. 

This year’s credit growth in Ho Chi Minh is expected  to grow around 20 percent; and credit loan in the final months of the year will reach at VND 80 trillion.


BY NHUNG NGUYEN- Translated by Huyen Huong

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