Tuesday, August 22, 2017 - 0:55:26

Banks to stop lending on securities

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More than 95 percent of domestic banks plan not to provide new loans for securities investment, according to a recent State Bank of Vietnam (SBV) report on economic outlook for 2013.

Forty five percent of the banks will narrow credit in this area this year, said the report.

Financial news website cafef.vn quoted the report as saying that commercial banks will concentrate capital on lending into important commodity sectors to foster economic growth.

According to the source, about 87 percent of banks won't increase credits for the real estate sector and 41 percent will reduce property lending.

Up to 90 percent of lending institutions expect to maintain and increase credits for areas prioritised by the Government, including agriculture and rural development, export, support industries and small and medium-sized enterprises.-VNA
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