Intellasia News Services -- HCM City-based joint stock banks report-doubling deposits

HCM City-based joint stock banks report-doubling deposits
Source: 30-APR-2008 Intellasia | 26/Apr/2008 Saigon Giai Phong
30 Apr, 2008 - 7:00:00 AM
HCM City-based banks since the start of this year raised 528.252 trillion dong, a year-on-year increase of 56.8%. Out of the total, commercial joint stock banks reported total 281.49 trillion dong, doubling last year's figure.

Currently, total outstanding loans of HCM City-based banks were 477.803 trillion dong of which medium and long-term loans accounted for over 40.5%.

Particularly, such prestigious banks as Vietnam Export and Import Commercial Joint Stock Bank (Eximbank), Asia Commercial Bank (ACB), An Binh Commercial Bank (ABBank), Saigon Thuong Tin Commercial Bank (Sacombank), Bank for Investment and Development Bank (Bidv) started cutting lending interest rate by 0.05%-0.2% a month based on different kinds of loans. Banks also started disbursing capital for many new projects, businesses, and individuals.

The city also asked banks to focus on lending business and production activities, prioritise export businesses, import businesses of materials for export production and others.