HDBank gets nod to raise credit growth quota to 30pct in 2012

HCM City Development Commercial Joint Stock Bank (HDBank) has said that on August 13, it received the approval from the State Bank of Vietnam (SBV) to adjust the credit growth in 2012 to maximum 30%.

Accordingly, HDBank’s total outstanding loans till December 31, 2012 would be maximum of 23.115 trillion dong, equalling to a credit growth of 30 percent from the end of 2011.

In the remaining months of 2012, HDBank will speed up lending activities for prioritised borrowers such as exporters, agriculture and rural development, business and production and supporting industry sectors.

Presently, HDBank is launching a preferential lending interest rate policy in dong for corporate customers throughout its network with the preferential lending interest rate at 12-12.5 percent per year, and even at less than 10 percent for some state-owned enterprises.

Earlier, the local newswire Bao dau tu (Vietnam Investment Review) on August 13 cited HDBank’s general director, Nguyen Huu Dang, as saying that the lender’s credit growth in the first seven months of this year was 8-9%.

Previously, three other banks also received approval from the central bank to raise credit growth quota in 2012, of which, TienPhongBank and OceanBank received credit growth quota at 27 percent and MB at 25%.

 

Category: Finance