Solutions boost credit growth in Hoa Binh

7/5/2019 - 6:17:00 PM

(HBĐT) - From the beginning of the year, the State Bank of Vietnam (SBV) has directed credit institutions, including those in Hoa Binh, to build and implement their 2019 business plan in accordance with the Government’s and SBV’s solutions on regulating monetary and credit policies and banking operation. The work aims at promoting credit growth, serving socio-economic development in the province.

Agribank branch in Lac Thuy mobilises maximum capital sources to meet demand for local socio-economic development.

From the beginning of the year to date, effective activities of banks and credit institutions have contributed to promoting Hoa Binh’s socio-economic development. By the end of the second quarter of 2019, their operating capital amounted to about 21.2 trillion VND, up 5 percent compared to the end of 2018. Of the sum, over 16.3 trillion VND were mobilised from economic organisations and residents, increasing 6.5 percent from the end of 2018 and meeting 73 percent of their total loans for business investment. Meanwhile, as of June 30, total outstanding loans exceeded 21.99 trillion VND, up 5 percent compared to the end of 2018.

Commercial banks increased their lending to prioritised areas, with outstanding loans for agriculture and rural sector and for small- and medium-sized enterprises surpassed 13.69 billion VND and 4.44 trillion VND, accounting for 62.3 and 20.2 percent of their total, respectively. Outstanding loans for export, industry and high-tech farming were 23billion VND, 22 billion VND and 2 billion VND, respectively.

Lending interest rates remained stable, with no changes recorded for commercial banks’ short-term and medium/long term loans, which ranged from 7.5 to 10 percent a year, and from 10.5 to 11.5 percent a year, respectively.

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