HDBank reports credit growth of 8pct in H1/2012

In the first six months of this year, HCM City Development Commercial Joint Stock Bank (HDBank) reported its credit growth at 8%, Le Thi Bang Tam, chairwoman of HDBank’s director board said on the sidelines of the preliminary meeting on banking operations in Jan-Jun and conducting tasks in the last six months of this year.

Regarding credit operations, Tam said that HDBank has built a reasonable credit growth target in lines with the State Bank of Vietnam (SBV)’s regulations. In fact, the total outstanding loans through the whole system in Jan-Jun reached about 8 percent and the average lending interest rate at 15 percent per year.

Tam also said that HDBank has recently launched a lending programme for rural development with preferential interest rates. The loan quota is three trillion dong. Currently, HDBank is providing some loans with the interest rate of only 11 percent per year and many old loans have been adjusted for the interest rate before due.

Earlier, according to the local newswire Dau Tu Chung Khoan on May 2, 2012, in the first quarter of 2012, the total outstanding loans of the HDBank’s whole banking system decreased 5%. HDBank targets credit growth in 2012 at 10 percent and bad debts would be controlled at less than 2.5 percent in 2012.

 

Category: Finance