HCM City-based banks’ credit growth at 7pct as of May

Total deposits of HCM City-based banks till the end of May is estimated to have reached 792.2 trillion dong, growing 22.9 percent from the same period last year but up only 0.3 percent from last month due to the deposits from individuals saw a fall of 5 percent.

However, in comparison with last May, total deposits from individuals in May 2011 still increased 30.9 percent, HCM City Statistic Bureau reported.

Of which, total capital mobilization of joint stock banks accounted for 59.2 percent of the total deposits, up 36.2 percent year on year, total deposits in foreign currency counted for 23.8 percent y-o-y, total deposits in dong were up 19.1 percent, of which, savings reached 281.4 trillion dong, up 28.8 percent and accounting for 35.5 percent of the total deposits.

The total outstanding loans as of late May is estimated to have reached 748.9 trillion dong, growing 28 percent year on year and up 1 percent month on month. The total outstanding loans of commercial joint stock banks reached 383.1 trillion dong, counting for 51.2 percent of the total outstanding loans and rising 39.7 percent y-o-y, of which, the total outstanding loans in foreign currency reached 220.9 trillion dong, equaling to 29.5 percent.

In comparison with last May, total outstanding loans in dong posted a rise of 25.2 percent and total outstanding loans in foreign currency increased 35.2 percent, medium and long term credit accounted for 45.5 percent, up 27.5 percent and short term credit increased 28.4 percent.

Thus, in comparison with late 2010, the total outstanding loans of HCM City-based banks increased 7 percent, equaling to an increase of 49 trillion dong, of which, outstanding loans in dong saw a rise of 5 percent.

Reportedly, till the end of April, the non-performing loans (NPL) of credit institutions in HCM City increased to 4.2 percent from 3.9 percent in March, of which, finance companies and financial leasing companies posted NPL at 26.3 percent while it was 5.6 percent at state-owned banks and 2.9 percent at commercial joint stock banks. – Vietbiz24

Posted by VBN on May 27 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