Consumer outstanding balance reaches 640 trillion VND

By the end of 2016, Vietnam’s outstanding consumption loans reached 640 trillion VND, making up 11.7 percent of the country’s total outstanding loans.

Thursday, July 13, 2017 18:27

Consumer outstanding balance reaches 640 trillion VND ảnh 1

At the workshop (Source: baomoi.com)

Hanoi (VNA) – By the end of 2016,Vietnam’s outstanding consumption loans reached 640 trillion VND, making up11.7 percent of the country’s total outstanding loans.

The information was released at a workshop onretail finance development held by Investment Newspaper on July 12 in Hanoi.

In financial companies, the ratio of non-collateralconsumption credits only makes 12.4 percent but serves more than 60 percent ofpeople at working age, equivalent to more than 30 million customers, with loansbelow 100 million VND.

To develop the consumption finance market, theState Bank of Vietnam should complete the legal framework, said financialexperts at the workshop, adding that financial companies should improve theappraisal process and solvency assessment to ensure the safety of customers.-VNA

VNA

#Vietnam’s outstanding consumption loans #workshop #retail finance development #non-collateral consumption credits #State Bank of Vietnam #Vietnam news #Vietnamplus

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