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SBV Expands Credit Access for Discouraged Fields

25-Apr-2012 Intellasia | Hanoi Times | 7:05 AM

The State Bank of Vietnam (SBV) has decided to expand credit access to securities, real estate and consumption activities, which previously had restricted access to loans, SBV Governor Nguyen Van Binh said.

The move was taken following careful analysis of the current economic situation and forecasts, said Binh at a press conference held on April 11 in Hanoi.

The appropriate range of credit access is expected to help resolve the frozen situation in the real estate market, speed up investment capital flows in the national economy and reduce difficulties for other fields, he added.

According to Binh, real estate credit outstanding is open to all types including the lending for accommodation purchase, sales, investment and construction for sales.

Earlier, the SBV Governor on April 10 asked credit organisations and foreign bank branches to keep the maximum loan outstanding proportion of 16 percent for discouraged fields against the total loan outstanding in the whole year of 2012.

Binh also said that consumption credit access covers all credit outstanding except for tSTC relating to tourism, medical treatment and overseas study.


Category: Finance

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