Hanoi Credit Growth Hits 18% in Jan-Nov

10:07 | 07/12/2015 Economy Follow Ven.vn on

Total outstanding loans of banks operating in Hanoi at the end of November are estimated to have reached 1,193 trillion dong ($53 billion), growing 1% from October and 18% from December 2014.

Shopping-goers tour nocturnal market in downtown Hanoi (Photo: www.doisongphapluat.com)

Data of the municipal Statistics Office showed that short-term lending in the city has increased 9.8% in the 11-month period while medium- and long-term lending has jumped 32.2%.

Despite reductions in deposit interest rates, total mobilization at banks is likely to have risen 1.2% month-on-month and 16.2% from the end of 2014 to 1,383 trillion dong ($61.5 billion), the office said.

Prime Minister Nguyen Tan Dung told the National Assembly on November 18 that total credit in the Vietnamese banking system is likely to expand 14.5%-15% in the January-November period and may exceed 17% this year./.

Source: Bizlive

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