Vietnamplus

The Prime Minister has issued a decision providing credit packages at the Bank for Social Policies for households who have recently escaped from poverty to help them develop production and businesses to stabilise their lives and promote sustainable poverty reduction.

Over 22,200 households have signed borrowing contracts worth 10.1 trillion VND (466 million USD) with commercial banks under the Government’s 30 trillion VND (1.4 billion USD) housing credit stimulus scheme, said Head of the Department of Housing and Real Estate Market Management Nguyen Manh Ha.

Vietnam recorded a credit growth rate of 6.09 percent by June 18 compared to the end of 2014 and 18.98 percent from the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.

The Vietnam Bank for Social Policies (VBSP) has received the green light to increase their credit ceiling from 6.5 percent to 10 percent, or 11.6 billion VND (532,000 USD).

A State-owned bank is offering a credit programme worth 20 trillion VND (over 930.2 million USD) to assist the development of the healthcare sector.

A State-owned bank will provide loans for the construction of the first two ships to be built in central Thanh Hoa province under a Government decree supporting fisheries development, as formulated in credit contracts inked on June 10.

The Prime Minister recently issued Decision 750/QD-TTg on lowering interest rates for preferential credit programmes at the Vietnam Bank for Social Policies (VBSP).

Vietnamese commercial banks are striving to expand and improve Vietnam’s credit card market, which has huge potentials, the Thanh Nien Online reported.

The State Bank of Vietnam (SBV) issued a rule that would push up green credit and environmental risk management in the credit-granting process so it could implement the National Action Plan on Green Growth.

Experts and commercial banks said SBV's decision helped create a level playing field for green credit growth. Green banking is controlled by the same authorities as regular banking, but takes more care to assure its actions benefit the country's environment, society and natural resources.

In a recent seminar on green credit and banking, Nguyen Thi Kim Thanh, head of the SBV's Banking Strategy Institute, said the banking sector had contributed to the country's socio-economic development by playing the role of financial broker and promoting growth.

Vietnam's credit growth rate reached 2.78 percent in the first four months this year – the highest in three years, according to the National Finance Supervision Council (NFSC).

An international symposium encouraged Vietnamese banks to provide loans using intellectual property (IP) assets as collateral to small- and medium-sized enterprises (SMEs).