Credit growth seen in January

Source: Pano feed

Credit growth rose slightly in January, a good start for efforts to achieve a credit growth of 13 -15 percent this year, reported the Cong Thuong (Industry and Trade) newspaper.

According to Hanoi’s Statistics Department, during the first month of this year, total capital mobilisation was estimated at over 1,204 trillion VND (56.4 billion USD) in January, up 1.1 percent against the previous month. Lending rose by 0.7 percent to 1,017 trillion VND (47.7 billion USD).

Meanwhile, in Ho Chi Minh City, bankers mobilised approximately 1,355 trillion VND (63.6 billion USD) in HCM City, up 0.83 percent from the previous month. The city’s lending in January has risen by 1 percent to 1,078 trillion VND (50.6 billion USD).

The positive results were attributable to the launch of several credit packages with preferential interests, the paper said.

For instance, VietinBank has offered loans for auto purchase at an annual interest rate of 7 percent, while VIB announced a short-term lending package of 1 trillion VND (47 million USD) at an interest rate of from 8.49 percent for a year.

Most creditors agreed that to achieve the growth target, it is necessary to have further support localities and the State bank so as to deal with bad debts and facilitate enterprises to access available loans.

Economics experts noted that the interest rate was in a downward spiral over the last two years.

Both economists and the National Financial Monitoring Committee recommend bankers to continue following the trend with more interest cut made in mid- and long-term loans.-VNA

Đăng ký: VietNam News