MB to spend vnd6tln loans for exports and agriculture

Military Commercial Joint Stock Bank (MB) planned to set out loans worth VND4 trillion for export sector, VND2 trillion for agriculture, rural areas and other VND2 trillion for distribution areas, the local news provider Gafin reported.

MB has been selected into the first group (out of 4 groups) of banks in Vietnam and assigned to apply credit growth limit of 17% this year.

With credit growth limit of 17%, MB will firstly provide credit for manufacturing sector and other areas such as seafood exports, agriculture, industry. In which, MB will give priority to traditional customers, small and medium enterprises.

MB performed outstanding loans of VND60.056 trillion by end of 2011, up 25.8% from beginning of the year, profit before tax reached VND2.823 trillion, up 30% from 2010 and bad debt ratio was 1.62%.

Source TEI/StoxPlus

Tags: Vietnam banking industry, Vietnam banks, Vietnam finance

Posted by VBN on Feb 25 2012. 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