The total outstanding loans of Vietnam-based credit institutions increased by 10.22 percent in the first 11 months of 2014 over that of end-2013.
The State Bank of Viet Nam (SBV) also revealed on December 5 that lenders had actively reduced interest rates for existing dong loans.
Last November 16, loans with annual interest rates of more than 15 percent accounted for 3.95 percent of all loans, which was less than the 6.3 percent recorded at the end of last year.
The ratio of loans with interest rates of more than 13 percent likewise fell from 19.72 percent to 11.1 percent.
The SBV said it would continue to ask commercial banks to slash lending rates further to below 13 percent. Interest rates declined by up to two per cent this year and were backing production and business activities while assuring national goals of controlling inflation and stabilising the monetary market.
Loans were focused on Government-prioritised areas and banking system liquidity remained healthy, with deposits at credit institutions expanding by 13.33 percent in 2014 over that of end-2013, it added.
Between now and year-end, the SBV will closely monitor the market and ensure comprehensive policies for monetary stability, especially on foreign currencies and exchange rates.
It will also provide further support for businesses and speed up credit institution restructuring and bad debt resolution to ensure systematic security and enable an overall lending growth of 12 to 14 percent for 2014.-VNA
The State Bank of Viet Nam (SBV) also revealed on December 5 that lenders had actively reduced interest rates for existing dong loans.
Last November 16, loans with annual interest rates of more than 15 percent accounted for 3.95 percent of all loans, which was less than the 6.3 percent recorded at the end of last year.
The ratio of loans with interest rates of more than 13 percent likewise fell from 19.72 percent to 11.1 percent.
The SBV said it would continue to ask commercial banks to slash lending rates further to below 13 percent. Interest rates declined by up to two per cent this year and were backing production and business activities while assuring national goals of controlling inflation and stabilising the monetary market.
Loans were focused on Government-prioritised areas and banking system liquidity remained healthy, with deposits at credit institutions expanding by 13.33 percent in 2014 over that of end-2013, it added.
Between now and year-end, the SBV will closely monitor the market and ensure comprehensive policies for monetary stability, especially on foreign currencies and exchange rates.
It will also provide further support for businesses and speed up credit institution restructuring and bad debt resolution to ensure systematic security and enable an overall lending growth of 12 to 14 percent for 2014.-VNA
