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Credit growth rate of 10.6% in Ho Chi Minh City

12/04/2021

As of early March, credit in Ho Chi Minh City achieved a growth rate of 10.6% over the same period in 2020. With the positive signals of the macro-economy, capital demand is forecast to increase in the near future.

Statistics have just been released by the Ho Chi Minh City Statistics Office show that as of March 1, 2021, the total outstanding loans of the entire banking system in Ho Chi Minh City reached VND 2,548.06 trillion, decreased by 0.6% from the previous month and increased by 10.6% over the same period in 2020.

Of which: outstanding loans at state-owned commercial banks reached VND 752.85 trillion, accounting for 29.5% of the total outstanding loans of the whole system, increased by 0.2% over the previous month and 9.5% over the same period.

The outstanding loans of commercial banks reached VND 1,385.05 trillion, accounting for 54.4% of the total outstanding loans of the whole system, increased by 0.5% over the previous month and increased by 13.7% over the same period.

The outstanding loans of foreign banks and joint ventures banks reached VND 410.16 trillion, accounting for 16.1% of the total outstanding loans of the whole system, decreased by 5.5% from the previous month and increased by 2.9% over the same period.

By currency, the total outstanding loans of the whole banking system in VND reached VND 2,375.06 trillion, accounting for 93.2% of the total outstanding loans of the whole system, decreased by 0.5% from the previous month and increased by 10.8% over the same period in 2020; the total outstanding loans in foreign currency reached VND 173 trillion, accounting for 6.8%, decreased by 1.4% from the previous month and increased by 7.4% over the same period.

By loan term, the total short-term outstanding loans reached VND 1,172.71 trillion, accounting for 46% of the total outstanding loans, decreased by 0.8% from the previous month and increased by 6% over the same period in 2020; medium-term and long-term outstanding loans reached VND 1,375.35 trillion, accounting for 54% of the total outstanding loans, decreased by 0.4% from the previous month and increased by 14.7% over the same period.

Also according to Ho Chi Minh City Statistics Office, the savings interest rates of credit institutions in the city showed signs of rebound, which has had a positive impact on mobilized capital. As of the beginning of March 2021, total mobilized capital has increased sharply over the same period.

Specifically, the total mobilized capital of the entire banking system in the city as of March 1, 2021 reached VND 2,893.42 trillion, decreased by 0.2% from the previous month and increased by 14.4% over the same period in 2020.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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