Business

State Bank of Vietnam lifts lending ceiling

The State Bank of Vietnam (SBV) has allowed some lenders to raise their credit growth ceiling this year in a move to boost economic growth, according to Thoi bao Ngan hang (Banking Times).
The State Bank of Vietnam (SBV) has allowed some lenders to raisetheir credit growth ceiling this year in a move to boost economicgrowth, according to Thoi bao Ngan hang (Banking Times).

Thelending ceiling of Vietcombank and VietinBank has been raised to 16percent, while the figure for SeaBank and TPBank is 35 percent.

Theceiling of Techcombank and LienVietPostBank was lifted to 30 percent.The new credit ceilings of VPBank, Nam A Bank, SHB and VIB are 18percent, 25 percent, 15 percent and 20 percent, respectively. The figurefor BaoVietBank is 36 percent.

The central bank also adjustedthe lending ceilings at the branches of some foreign banks. The ceilingfor Standard Chartered Vietnam is now 30 percent, while for KoreaExchange Bank's Hanoi branch it is 35 percent. The ceiling for TaipeiFubon's Binh Duong branch is 24 percent.

Earlier this year, the central bank set lower credit growth ceilings for the banks mentioned.

Thecentral bank had also fixed the maximum limit for outstanding loans forsome banks this year. The limit for Kookmin's HCM City was 1.95trillion VND (89.86 million USD), and for Woori's HCM City branch it was3.99 trillion VND (183.87 million USD).

The figure forIndustrial and Commercial Bank of China's Hanoi branch was 4.485trillion VND (206.68 million USD), and for PNP Paribas's HCM City branchit was 5 trillion VND (230.41 million USD), while for Citibank, NA'sHCM City branch it was set at 2.79 trillion VND (128.57 million USD).

Thecentral bank has also directed lenders to draw up credit-riskmanagement measures and pledge to implement them to better control baddebts. The measures must be submitted to the bank before July 31.

Thelenders are also required to ensure that the credit system is focusedon production and trading, especially in agriculture and ruralindustries, exports and supporting industries, small-and medium-sizedfirms, and high-tech firms. In addition, the lenders have to closelysupervise lending to risky sectors, such as real estate and those thattake a long time for capital retrieval.

This is the fourth year that the central bank has fixed a credit growth ceiling for each bank.

Asthe country's credit growth rose nearly 6 percent in the first half ofthe year against December last year, SBV Governor Nguyen Van Binh saidthe bank could lift the credit growth target this year from 13-15percent, which was set earlier this year at 17 percent to boost economicgrowth.-VNA
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