Banks expect an upward trend in their business in the remaining months of the year.(Source: VNA)

Hanoi (VNA) – Up to 75 percent of credit institutions expected better results in the second quarter of this year, while 84 percent hoped their business performance throughout 2018 to improve further compared to 2017, of this, 28 percent anticipated “significant improvement”.

They expressed their hope after making improvements in the first quarter, according to a March survey released by the State Bank of Vietnam on April 4.

The survey covered domestic and foreign commercial banks in the country.

Up to 72.4 percent of the respondents predicted their pre-tax profit in 2018 to rise compared to 2017, helping the average growth rate of the entire banking system to reach 18.2 percent, lower than the 19.3 percent forecast in the previous survey conducted in the first quarter of this year.

The survey also showed that 64 percent and 69 percent of the respondents expected customer demands for banking services, especially lending, in the second quarter and the entire year, respectively, to increase compared to 2017.

Banks expected the banking system’s credit growth to reach 4.85 percent in the second quarter and 16.3 percent in the entire year.

The respondents also anticipated capital mobilisation of the entire banking system this year to reach 16.65 percent, of which the increase in second quarter was anticipated at 4.71 percent.

Banks also said the liquidity of the banking system in both Vietnamese Dong and foreign currencies was currently “good” and that the positive status would continue for the rest of the year.-VNA