Northwestern region reports 14.45 percent credit growth

Total outstanding loans of credit institutions in the northwestern region were estimated at more than VND 147.25 trillion  (US$ 7.01 billion) by December 31, representing a year-on-year increase of 14.45 percent and 3.72 percent of the country’s total lending this year, said the State Bank of Vietnam (SVB).

By the date, bank branches in the 12 regional provinces mobilised nearly VND 110.96 trillion (US$ 5.28 billion), rising by 19.49 percent from a year earlier and accounting for 2.45 percent of the entire economy’s figure.

SBV Deputy Governor Dao Minh Tu said the region’s non-performing debt this year topped VND 2.12 trillion VND (over US$ 100.9 million), accounting for 1.44 percent of total credit.

At a press conference on December 31, the SBV and the People’s Committee of Son La province said a conference to attract investment and aid to the northwestern region will be held on January 31 next year. At a similar event in 2014, commercial banks committed VND  333 billion (more than US$ 15.85 million) for the provinces’ social welfare programmes.

Source: VNA

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