Hanoi banks achieve half year's credit target

Hanoi-based banks have achieved half the year's credit growth target of 13-15 percent within the first four months of 2015.
Hanoi-based banks have achieved half the year's credit growth target of 13-15 percent within the first four months of 2015.

Accordingto the Hanoi Statistics Office, the capital's credit is estimated torise 6.6 percent against December last year to 1.077 trillion VND (49.86million USD) in January-April, an estimated increase of 0.8 percentcompared with the previous month.

The high credit growth proved that the economy's capacity to absorb capital had improved significantly, the office noted.

Industryinsiders also said that the growth was a good signal since the countryhad always seen negative credit growth in the first months of previousyears.

However, they called it a reasonable outcome since the entire economy had seen a significant recovery recently.

DinhDuc Quang, Deputy Director of Ocean Commercial Bank, told Dau tu chungkhoan (Securities Investment) magazine that the credit growth was due toreal demand for capital and was therefore sustainable. He contrastedthat with similar strong growth in the final part of the year, which wasattributable to banks looking for a way to increase lending to achievetheir targets rather than due to real demand.

Besides creditgrowth, the capital mobilisation of Hanoi-based banks is also estimatedto rise 5.5 percent from December 2014 to 1.257 trillion VND (58.19million USD).

Long-term capital mobilisation from 12 monthsonwards is estimated to account for 30.5 percent of total mobilisation.Mobilisation in Vietnamese dong is estimated to account for 80.9 percentof total mobilisation.-VNA

See more

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year. (Photo: https://doanhnhansaigon.vn)

Remittances to HCM City surge ahead of Tet

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Illustrative photo (Photo: VNA)

Retail petrol prices down in latest adjustment

The price of E5RON92 bio-fuel was priced at 20,592 VND (0.82 USD) per litre, representing a 158 VND decrease from the previous baseline, while RON95-III decreased to 21,142 VND per litre, down 78 VND.

Inside the ABB factory in Vietnam (Photo: baodautu.vn)

European investment flows gain momentum in Vietnam

European investments are expected to pick up in Vietnam following Prime Minister Pham Minh Chinh’s engagement with Czech and Polish enterprises as part of his trip to Europe to attend the 55th Annual Meeting of the World Economic Forum.

Hideaki Egashira revealed plans to expand Idemitsu's investment in Vietnam. (Photo: tapchicongthuong.vn)

Idemitsu to expand investment in Vietnam

Hideaki Egashira, General Director of Idemitsu Vietnam Co Ltd, a subsidiary of Japanese petroleum company Idemitsu Kosan, has revealed plans to expand the company's investment portfolio in Vietnam.