HCM City credit growth reaches 13.5 percent in 9 months

11:09 | 03/10/2017 Finance - Banking

Outstanding loans of commercial banks in HCM City in the first nine months of 2017 rose 13.5 percent against December last year to more than 1.67 quadrillion VND (73.57 billion USD), the city People’s Committee report stated.

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Of the total, loans in Vietnamese dong accounted for 90.4 percent, equal to more than 1.5 quadrillion VND, up 13.2 percent against December last year. Loans in foreign currencies made up 160 billion VND, up 15.4 percent.

Non-performing loans accounted for 4 per cent of the city’s total outstanding loans, down 0.04 percentage points against December last year.

HCM City-based commercial banks during the period lent 152.77 trillion VND to 37,920 customers in the Government’s five prioritised industries of agricultural production, export business, production of small and medium-sized enterprises (SMEs), supporting industry and high-tech production, of which loans to SMEs made up the highest proportion of 64.4 percent, or 98.44 trillion VND.

The committee also reported that the banks mobilised 1.94 quadrillion VND in the first nine months, up 9.2 percent against December last year.

Of the total capital, deposits in dong reached over 1.7 quadrillion VND, accounting for 87.9 percent and rising 9.6 percent against December last year.

Theo VNA