A majority of credit institutions (CIs) are optimistic about their business performance in Q3 2022, the State Bank of Vietnam (SBV)’s latest survey on business trends of credit institutions showed.
Agricultural loan outstanding has reached close to 2.8 quadrillion VND (119.44 billion USD), accounting for roughly 25% of total loan outstanding, according to Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.
Property credit increased by 12.31%t in the first five months, a higher growth rate than that of the same period in previous years, the State Bank of Vietnam (SBV) has said.
Automaker VinFast on July 13 announced that it has signed agreements with Credit Suisse (Singapore) Ltd and Citigroup Global Markets Inc. to raise at least 4 billion USD to develop an electric vehicle factory in North Carolina, the US.
Deputy Prime Minister Le Minh Khai requested appropriate measures be taken to guarantee macro-economic stability and control inflation to avoid economic shocks while maintaining normal production and business activities and ensuring people’s jobs and income.
Four commercial banks signed agreements to provide loans worth a total of 4.66 trillion VND (200 million USD) to 20 companies operating in Ho Chi Minh City-based industrial parks and export processing zones at a meeting connecting banks and businesses held last week.
Singapore on June 21 announced a support package worth 1.5 billion SGD (about 1.08 billion USD) to provide immediate relief for vulnerable people and businesses amid rising inflation.
A central bank official said the current USD/VND exchange rate, which has increased by about 2% from the end of 2021, is appropriate as compared to developments in the domestic and foreign markets.
Vietnam’s credit growth as of June 9 expanded by 17.09 percent against the same period last year, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said on June 15.
The World Bank (WB) released the June edition of its monthly Vietnam Macro Monitoring on June 13, highlighting that the economic recovery remained strong despite heightened global uncertainties.
As of May 20, Vietnam’s banking system had injected some 43 billion USD into the economy this year, a 7.6 percent increase compared to the end of 2021. The figure also reflects rising capital demand for production and business activities and a bright outlook for economic recovery.
Total outstanding value of corporate bonds by the end of April 2022 reached 320.4 trillion VND (13.8 billion USD), accounting for a small proportion of the country’s total outstanding credit of 2.86 percent, according to the State Bank of Vietnam.
The State Bank of Vietnam (SBV) has been consistent in its policy to strictly control the credit flows into areas with high risks such as real estate and securities, and the policy will continue to be implemented in 2022 and following years, said SBV Deputy Governor Dao Minh Tu at a regular Government press conference on June 4.
Credit ratings agency Fitch Ratings has assigned the PetroVietnam Power Corporation (PV Power) a Long-Term Foreign-Currency Issuer Default Rating (IDR) of “BB” with a positive outlook for the second consecutive year.
Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.
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