Businesses in many fields have voiced their concerns about the lack of capital from banks.
Bank loan interest rates are becoming a heavy burden on businesses, which have been hit hard by Covid-19 for more than a year.
Deposits at banks continue to increase, though deposit interest rates have been decreasing. With plentiful capital, banks are inviting individuals who want to borrow money to buy houses and cars.
The Ministry of Public Security has warned about the risk of black credit provided by online lending applications which could threaten social security.
More than 2,320 bank officers have lost jobs at VP Bank, and the figure is 1,248 at OCB. The two banks had the highest number of officers losing jobs this year.
Bank loans for build-operate-transfer (BOT) and build-transfer (BT) infrastructure projects by the end of September this year reached nearly VND110 trillion (US$4.72 billion), up 1.85 per cent against the end of 2018.
Vietnam’s credit growth is slowing and can fall behind the central bank’s target of 14 percent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year.
Real estate firms are rushing to issue corporate bonds, which analysts say shows their thirst for capital. But there are risks.
Bond issuance is becoming an ideal channel for real estate firms to raise capital as credit policies for property development are gradually being tightened, experts said.