Business

Loan demand rises as from March

Financial institutions have reported a rise in the demand for loans since the beginning of March, according to a survey conducted by the Monetary Forecast and Statistics Department under the State Bank of Vietnam.
Financial institutions have reported a rise in the demand for loanssince the beginning of March, according to a survey conducted by theMonetary Forecast and Statistics Department under the State Bank ofVietnam.

According to the survey, the respondentsexpect the banking system’s average credit growth will increase to 16.93percent this year from the 14.57 percent forecast at the previoussurvey last December.

Meanwhile, they anticipate slight decrease in both deposit and lending interest rates.

Raisingcapital is forecast to increase by nearly 15 percent from the previousforecast rate of 14.35 percent, with capital mobilization in Vietnamdong to grow faster than that in foreign currency.

Most ofthe financial institutions involved believe long-term deposits,particularly those of 6-month and longer terms, will increase in thesecond quarter towards the end of the year.-VNA
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