Hanoi banks’ foreign currency credit grows 21.79pct by August-end

The State Bank of Vietnam (SBV)’s Hanoi branch reported on Tuesday that by August 31, the total loans of Hanoi-based banks had been estimated at 568.535 trillion dong, rising 11.49 percent from late 2010. Of which, total loans in dong rose 6.94 percent, while the credit in foreign currencies, mainly US dollars grew 21.79 percent.
According to SBV, total loans for the non-production sector reached 104.238 trillion dong, making up 18.33 percent of the total outstanding loans, down 10.85 percent from late 2010. In particular, non-production loans fell 0.87 percent from June 31, 2011.

Consumer loans of Hanoi-based banks, accounted for 10.78 percent of the total outstanding loans, decreased by 6.8 percent from late 2010 (down 815 billion dong), property loans accounting for 6.65 percent, falling 2.3 percent (down 162 billion dong) and securities loans accounting for 0.9 percent, dropping 22.3 percent (269 billion dong).

By the end of August, the credit growth of 12 Hanoi-headquartered banks was reported at less than 20 percent. of which, the highest was + 16.7 percent and the lowest at Tien Phong Commercial JS Bank was – 4.4 percent. The highest non-performing loan (NPL) ratio was 2.82 percent and the lowest was 1.19 percent.

(US$1 = 20,830.00 dong)

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam forex market

Posted by VBN on Sep 21 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