Agribank sets 5% credit grow target in November and December

Agribank proposed series of measures to boost credit growth over 5%, mostly increase capital in agricultural lending and rural areas, said Nguyen Ngoc Bao, the CEO of Vietnam Banking for Agricultrural and Rural Development (Agribank).

From January to Oct,2011, Agribank has focused lending on agricultural and rural areas, reducing the loan balance non-manufacturing sector, reduced interest rates for the manufacturing sector 2-4% per year. Total outstanding loans and investments of Agribank is VND468.724 billion. Outstanding loans for agricultural and rural development increased VND28,583 billion, up 13% from last in 2010.

In the coming time, the Agribank’s branches need to consider decreasing lending rates to a reasonable level for expanding to lend, especially Agribank’s branch will focus on lending rates for manufacturing, purchasing and processing agricultural products under 17%.

Source StoxPlus

Tags: Agribank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Nov 16 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry