credit growth rate
Update news credit growth rate
VietNamNet Bridge - FE Credit and HD Saison have reported lower growth rates as they have had to settle problems arising after a hot development period.
Many banks have had credit growth rates near the ceiling set by the State Bank (SBV), which has warned that it will not consider lifting the rate ceiling for any bank.
VietNamNet Bridge - Experts say the legal framework for consumer financing is still not open enough, creating difficulties in attracting foreign capital.
The State Bank of Vietnam, in an effort to strictly control credit growth in the second half of the year, will take unscheduled inspection tours to banks that are pouring money into the real estate sector.
VietNamNet Bridge - A large part of capital is still going to non-priority sectors, including real estate.
VietNamNet Bridge - Around one out of every two Vietnamese borrows money on credit, according to StoxPlus.
VietNamNet Bridge - Easing the lending interest rate further by 0.5 percent and obtaining a high credit growth rate of 21-22 percent as instructed by the PM will not be an easy task.
The State Bank of Vietnam (SBV) has been asked by electors from Long An province to reconsider or review the opening of a number of commercial banks there several years ago. A high bad debt ratio in recent years was the reason behind the request.
VietNamNet Bridge – While the State Bank repeatedly urges commercial banks to push up lending, economists believe there’s no need to strive for the 12 percent credit growth rate in 2013, if this brings risks.
NFSC has said he can see the possibility of slashing the ceiling deposit interest rate further to 7 percent, thus paving the way for the lending interest rate reduction to 10 percent per annum.
Most commercial banks have reported the very slow outstanding loan growth, forecasting the 12 percent credit growth rate goal for 2013 is unfeasible.