Total outstanding loans of the whole banking system as of Oct 20 were estimated to rise by 0.05% on-month and up 8.61% from end-2010 while total deposits fell 0.74% on-month, yet rising by 8.59% YoY. Total outstanding loans of the whole banking system as of Oct 20 were estimated to rise by 0.05% on-month and [...]
Banking credit growth might be kept 12 per cent until the year’s end, although the government had set a 20 per cent cap early this year. “Credit growth at 12 per cent would be more rational for the purposes of stabilising the macroeconomic situation,” said State Bank deputy governor Nguyen Dong Tien. The previous 20 [...]
Total outstanding loans and money supply in the banking system this year are estimated to be lower than expected. A report on 2011 socio-economic performance delivered by prime minister Nguyen Tan Dung at the second session of the 13th National Assembly on Thursday, total outstanding loans are expected to increase 12 percent and money supply [...]
In 2011, Vietnamese government has been regulating the monetary policy closely and flexibly and the whole banking system’s credit growth this year is estimated to be 12% and money supply growth at 12.5%, the prime minister said in the socio-economic report in 2011 and socio-economic development plan for 2012 and five year 2011-2015 at the [...]
Overheating credit growth coupled with poor credit management is believed to be the main reasons behind increasing bad debts, according to Thoi Bao Saigon (Saigon Economics Times) newspaper on Oct. 10. VAH Fund (Vietnam Alternative Holdings) worth of US $100 million managed by Viettinbank’s Fund Management Company (VietinBank Capital) and Saigon Asset Management Corporation (SAM) [...]
Local currency credit disbursement is growing slightly though banks have pulled down lending rates. According to State Bank figures, the banking sector saw an estimated credit growth of 8.85 per cent as of August 30, 2011 against the end of 2010, lower than 16.9 per cent in 2010’s corresponding period. Some bank executives said though [...]
Vietnam will continue tightening policy in 2012 and the targets of credit growth and money supply are likely to be capped at 17% and 16% respectively, the lowest level in 15 years, the state-run newspaper VnEconomy reported, citing its private source If this source is correct, the year 2012 will see second consecutive tightening monetary [...]
Vietnam lowered credit growth target to 15-17% from previous 20% and money supply (M2) to 12% from 16% as the country is facing highest inflation in Asia, Minister, Chairman of Government Office said at a press conference on Sept 26. This move came out as 9-month economic conditions proved that inflation target of 18% and [...]
The credit growth of Vietnam’s entire banking system as of September 12 was 8.63% from December 2010, the local newswire VnEconomy said on Monday. In comparison with August 31, 2011, credit posted a fall of 0.48% and decreased 0.1% over September 9, 2011. Total deposits as of September 12 increased 10.72% compared to December 31, [...]
As of August 31, 2011, the total deposits of Hanoi-based credit institutions reached 820.66 trillion dong, growing 3.2% from December 31, 2010, of which, saving in dong accounted for 73% of the total and deposits in foreign currencies (mainly US dollars) made up 27% of the total deposits, representative of State Bank of Vietnam (SBV)’s [...]
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