Deposits at HCM City banks rises 8.7pct, loans up 6.6pct
Total deposits at commercial banks in HCM City by the end of June were estimated to have reached 656 trillion dong, up 18 percent over the same period and increased 8.7 percent from a year earlier, according to HCM City Statistics Office’s data.
HCM City Statistics Office’s data showed that the mobilised capital of joint stock commercial banks accounted for 53.4 percent of the entire system’s total deposits, representing a 38.5 percent increase over the same period.
Total mobilised capital in foreign currencies accounted for 27 percent of the total mobilised capital, up 1.8 percent from the previous month, up 29 percent over the same period.
Total mobilised capital in dong increased 14.4 percent, of which saving deposits and bills of exchange reached 333.9 trillion dong, up 24.6 percent, accounting for 50.9 percent of the total mobilised capital.
Total outstanding credit balance was estimated to have reached 596.8 trillion dong, up 23.5 percent over the same period, up 6.6 percent from a year earlier.
Of the outstanding loans, joint stock commercial banks accounted for 46.2 percent, posting a 30.6 percent increase over the same period, according to HCM City Statistics Office.
Total outstanding loans in foreign currencies (converted into dong) hit 166.7 trillion dong, accounting for 27.9 percent of the entire banking system’s total outstanding loans, up 39.4 percent over the same period.
Meanwhile, outstanding loans in dong grew only 18.2 percent. Medium and long term outstanding loans accounted for 45.6 percent of the total, up 31.7 percent over the same period in 2009, while short-term outstanding loans increased 17.3 percent year-on-year.
HCM City authorities are continuing to carry out the directions of the government to provide interest rate supports and stimulus programme through investments in the city.
HCM City Statistics Office assessed that the currency markets and banking activities in HCM City in the first six months of this year were relatively stable as the basic interest rate is still maintained at 8 percent per year by the State Bank of Vietnam. The bank deposit rates of dong in the city are averaged at 11 to 11.5 percent per annum, while loan interest rates are roughly 13-15 percent per year.
Category: Finance
