Banks forecast strong performance despite credit slowdown
Most domestic credit institutions and foreign banks’ branches in Vietnam expect their business performance in 2019 to be better than last year despite the predicted slowdown in credit growth.
In the survey, some 91 percent of credit institutions forecast their pre-tax profits in 2019 to grow against last year, whereas 3 percent expected them to remain unchanged.
According to the survey, the predicted credit growth for 2019 is a bit lower than the 14 percent target set by the SBV.
Apart from credit growth, capital mobilisation in the banking sector is forecast to rise by 4.39 percent in the fourth quarter of 2019 and 13.06 percent this year, down 0.42 percentage point compared with the level in the previous survey conducted in June this year.
The survey also indicated that many banks saw a reduction in credit risk in the third quarter./.
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