(HBO) – The total outstanding loans of banks and credit institutions in the northern province of Hoa Binh reached over 21 trillion VND (907.8 million USD) at the end of 2018, a year-on-year rise of 12.46 percent, according to the State Bank of Vietnam’s local branch. Of which, the short-term outstanding loans were 8.63 trillion VND, making up 41 percent; middle and long-term ones, over 12.4 trillion VND, accounting for 59 percent.


The Hoa Binh branch of the joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) offers production loans for many enterprises and business households in the locality.

The interest rate for short-term production and business loans of commercial banks ranged from 6.5 percent to 10 percent per year (normally 8.5-9 percent per year), while middle- and long-term ones 10.5-11.5 percent per year.

People’s credit funds applied the interest rate of between 10.8 percent and 12 percent per year for short-term loans, and 10.8-13.2 percent per year for medium- and long- term ones.

That for consumer loans of commercial banks and people’s credit funds stood at 11 percent and 12-13.2 percent per year, respectively.

Banks and credit institutions offered over 12 trillion VND in loans for the agricultural and rural sector, making up 62 percent of the total outstanding loans, up nearly 13 percent versus 2017.

Loans for small and medium-sized enterprises (SMEs) accounted for over 20 percent of total outstanding loans. The outstanding loans for industry, export, high-tech and clean agriculture remained low./.

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