Credit growth of dong in Q1 surges 0.57pct

01-Apr-2010 Intellasia | Thoi Bao Kinh Te Vietnam | 5:29 PM Print This Post

At the government’s recent meeting, Ministry of Planning and Investment reported that the whole economy’s total outstanding loans till March 31 surged 1.49 percent month on month and 2.95 percent from last December.

In which, the outstanding loans of dong are estimated to rise by 0.91 percent m-o-m and 0.57 percent against late 2009 while those of foreign currencies surged 3.98 percent and 14.07 percent.

Also, the general payment means (M2) up to the end of March 2010 soared 1.02 percent from February and 2.3 percent compared with December 2009.

Meanwhile, total deposit balance of customers at credit institutions grew by 1.81 percent and 1.45 percent correspondingly, the ministry reported. In which, the deposits in dong were up 2.04 percent m-o-m and 1.82 percent from last December and deposits of US dollar increased 1.02 percent and 0.21 percent.

Current short term lending rate stands at 12 percent pa while the negotiation based lending rate of medium and long term loans is around 14-15 percent pa as for state commercial banks and 15-17 percent as for joint stock banks. Specially, some small sized joint stock banks lend loans at 18-20 percent pa.


Category: Finance

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