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In the first 7 months of the year, Ho Chi Minh City credit grew by 5.9%

04/09/2021

Social distancing also slows down the growth rate significantly. At the beginning of June 2021, when Ho Chi Minh City began to implement social distancing, the amount of outstanding credit loans reached more than VND 2.65 million billion, or just over 1.1% increase after two months.

According to data from the General Statistics Office of Ho Chi Minh City, the total amount of outstanding loans of the entire banking system in the city as of August 1, 2021 reached more than VND 2.68 million billion, increased by 0.2% compared to the previous year and incresed by 13.1% over the same period in 2020.

Earlier, also according to this agency, the total amount of outstanding loans as of the end of 2020 was VND 2.53 million billion. Thus, accumulated in the first seven months of 2021, credit in Ho Chi Minh City achieved a growth rate of 5.9%; much higher than 3.7% in the same period last year.

Social distancing also slows down the growth rate significantly. At the beginning of June 2021, when Ho Chi Minh City began to implement social distancing, the total amount of outstanding loans reached more than VND 2.65 million billion, or just over 1.1% increase after two months.

In terms of structure, the amount of outstanding loans of the state-owned banking sector reached VND 797,850 billion (accounting for 29.8% of total outstanding loans), decreased by 0.7% over the previous month and increased by 13.2% over the same period; the amount of outstanding loans of joint stock banks reached more than VND 1.45 million billion accounting for 54.2%), increased by 0.5% over the previous month and increased by 14.4% over the same period last year. Outstanding loans of foreign banks and joint venture banks reached VND 431,490 billion (accounting for 16%), increased by 1.2% compared to the previous month and increased by 8.6% over the same period last year.

By currency, total outstanding loans in local currency reached nearly VND 2.49 million billion (accounting for 92.8 percent), increased by 0.2 percent from the previous month and increased by 12.8% over the same period in 2020; outstanding loans in foreign currencies reached VND 192,640 billion, decreased by 0.2% from the previous month and increased by 17.3% over the same period last year.

By loan term, short-term loans reached more than VND 1.22 million billion (accounting for 45.5%), decreased by 0.1% compared to the previous month and increased by 7.3% over the same period in 2020. Medium-term and long-term loans reached more than VND 1.46 million billion dong (accounting for 54.5%), increased by 0.5% over the previous month and increased by 18.5% over the same period last year.

Meanwhile, as of August 1, the total mobilized capital of the whole banking system in the city reached more than VND 3 million billion, increased by 0.7% over the previous month and increased by 14.2% 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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