HCM City’s banks maintain high growth
Banks in the southern economic hub of Ho Chi Minh City have maintained their high growth in 2016 compared to previous year, according to the Ho Chi Minh City branch of the State Bank.
Illustrative image (Photo: VNA)Hanoi (VNA) – Banks in the southern economic hub of Ho Chi Minh City have maintained their high growth in 2016 compared to previous year, according to the Ho Chi Minh City branch of the State Bank.
Nguyen Hoang Minh, Deputy Director of the branch said on December 29 that total capital mobilization of credit institutions in the city is estimated to reach 1.82 quadrillion VND (approximately 80 billion USD), up 16 percent against 2015.
Total outstanding loans will go up nearly 19 percent to hit 1.56 quadrillion VND (about 68 billion USD) compared to the end of last year.
The city’s banking sector has reached the credit growth rate target of 18 – 20 percent in 2016.
According to the Vietnam General Office of Statistics, the credit growth of the national economy reached 16.46 percent as of December 20. Banks’ capital mobilisation upped 16.88 percent and deposit interest rates remained stable.
The year’s average VND/USD exchange rate showed a year–on–year increase of 2.23 percent and the average core inflation rate went up by 1.83 compared to the previous year. -VNA
You should also see
Vietnam reports 15th COVID-19-related death
A 68-year-old man from the central province of Quang Nam has become the 15th person who died of COVID-19-related complications in Vietnam.
See more
Business
Travel firms suffer losses after tour cancellations due to COVID-19
Travel firms have suffered great losses from thousands of recent tour cancellations due to a new outbreak of COVID-19, according to tourism associations.
Business
Vietnam aims to have 2,000 supporting businesses
Prime Minister Nguyen Xuan Phuc has signed a resolution to promote the development of support industries with the aim of having 2,000 enterprises capable of directly supplying parts for multinational corporations in ten years.
Business
Banks to continually cut costs to aid COVID-19 affected firms
The State Bank of Vietnam (SBV) has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.
Business
Reference exchange rate up 2 VND
The State Bank of Vietnam set the daily reference exchange rate at 23,217 VND per USD on August 11, up 2 VND from the previous day.
Business
Phu Quoc promotes eco-agriculture in combination with tourism
Phu Quoc district in the southern province of Kien Giang has invested in eco-agriculture in combination with services and tourism, aiming to create more tourism products by 2025, with a vision towards 2030.
