Credit growth touches 16.46pct as of December 20

31-Dec-2016 Intellasia | Nhip Cau Dau Tu | 6:00 AM Print This Post

As of December 20, 2016, the total money supply increased 16.47 percent year-on-year, higher than the year-on-year increase of 13.55 percent, data from the general Statistical Office show.

According to the statistical agency, the capital mobilisation of credit institutions rose 16.88 percent while the growth rate in the same period last year was 13.59 percent. The credit growth of the economy reached 16.46 percent.

In the announcement released by the State Bank early December, the monetary authority assessed that credit is currently growing at a reasonable rate. The credit structure still shifts towards positive direction, focusing capital on manufacturing and business, especially priority areas, actively supporting the agricultural restructuring process, development of fisheries and supporting industries, supporting small and medium enterprises, exporters, and businesses with high-tech applications.

Regarding the insurance market in 2016, GSO also said the premium revenue across the market is estimated to increase 22.1 percent year-on-year while life insurance premium revenue rose 30.5 percent; insurance premium revenue increased 12.5 percent and non-life insurance premium swelled 12.5 percent. The actual compensation of original insurance in non-life insurance is estimated at 32.98 percent (compared to 41.47 percent in the same period of 2015).

 


Category: Finance

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