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HCM City banks loan $31.8b
02-SEP-2010 Intellasia | Vietnamnews
2 Sep, 2010 - 7:00:00 AM
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Outstanding commercial bank loans in HCM City totalled 620 trillion dong (US$31.8 billion) to the end of August, reports the State Bank of Vietnam.

Property loans stood at 92.86 trillion dong ($4.76 billion) or 15 percent, and consumer loans at 32.03 trillion dong ($1.64 billion) or 5.2 percent.

The remaining 80 percent was for production and business.

Deposits totalled 683.5 trillion dong ($35.05 billion), up 13.3 percent year-on- year; dong deposits increased 16.3 percent and foreign currency deposits just 5.3 percent.

Remittances to HMC City banks totalled about $326 million, down 4.45 percent against July.

An estimated $3.7 billion in remittances has been sent to the City since January 1, up 20 percent against the first seven months of last year and the figure is expected to hit $6 billion by the end of the year.

Overseas Vietnamese have started to reinvest and the labour export market has expanded to raise remittances.

The State Bank of Vietnam's HCM City branch, says foreign-exchange trading by commercial bank fell 22-25 percent in July against June.






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