Business

Northwestern region reports 14.45 percent credit growth

Total outstanding loans of credit institutions in the northwestern region were estimated at more than 147.25 trillion VND (7.01 billion USD) by December 31, representing a year-on-year increase of 14.45 percent and 3.72 percent of the country’s total lending this year, said the State Bank of Vietnam (SVB).
Homebuyers given assistance Society

Homebuyers given assistance

Individuals purchasing commercial houses worth 1.05 billion VND (50,000 USD) or less in urban projects that authorities have approved are entitled to financial assistance from the national real estate bailout programme.
Business

Stock lending capped at 5 percent of banks' charter capital

Starting next February, total outstanding loans that commercial banks and branches of foreign banks may offer for stock investment cannot exceed 5 percent of their charter capital, according to a circular issued on November 21 by the State Bank of Vietnam (SBV).
Business

Banks pledge continued credit priority for Mekong Delta

The banking sector will continue to give lending priority to rice production, aquaculture and fruit cultivation and processing in the Mekong Delta to help the region fully tap its potential for sustainable development, according to Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh.
Business

Mekong Delta: bad debt at 3 percent a year

The bad debt ratio in the Mekong Delta region has been kept at around three percent a year during the last three year, according to the Credit Department of the State Bank (SBV).
 
Vietcombank exceeds annual target during first nine months Business

Vietcombank exceeds annual target during first nine months

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) announced that it has fulfilled 99 percent of its annual target for capital mobilisation with 390 trillion VND (nearly 18.6 billion USD) during the first nine months, up by 18 percent from the beginning of the year.
Business

HCM City credit grows 6 percent

Ho Chi Minh City achieved a 6.05 percent credit growth worth 1,010 trillion VND (47.4 billion USD) from January to September 2014, according to the local government.
Business

Remittances to HCM City expected to reach 5 billion USD

Oversea remittances to Ho Chi Minh City reached 3.12 billion USD in January-September and the figure is forecast to rise to 5 billion USD at the end of this year, well above last year’s 4.8 billion USD, according to a local newspaper.
Bad debts debated at central bank governor’s Q&A session Business

Bad debts debated at central bank governor’s Q&A session

Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh on September 29 attended a Q&A session at the ongoing 31st meeting of the National Assembly Standing Committee, during which he focused on clarifying issues relating to bad debts and credit growth.