Tuesday, December 6, 2022 3:14:32 PM - Markets open
VN-INDEX 1,048.69 -44.98/-4.11%
HNX-INDEX 212.80 -7.16/-3.26%
UPCOM-INDEX 71.02 -2.22/-3.03%
Credit growth likely to hit 14 per cent in 2021: SBV Deputy Governor
Vietnam News - 12/30/2021 2:16:20 PM
 (0 ratings. You must sign in to rate.)
Credit growth has reached 12.97 per cent so far and is likely to hit 14 per cent this year as credit expands very strongly towards the end of the year, the head of the State Bank of Việt Nam (SBV) revealed.
This year, the bad debt ratio has to date edged up to 3.79 per cent, but may reach 8.2 per cent if taking into account restructured debts.
Standing Deputy Governor Đào Minh Tú voiced his concerns over an increase in non-performing loans this year, saying it is one of the big challenges for the banking system in 2022 and the following years.
In a press conference on Tuesday, Tú attributed the increase to the worst-ever fourth wave of COVID-19 in Việt Nam, noting that bad debts are unwanted consequences of the COVID-19 outbreak and can rise even if the pandemic continues to cause trouble to businesses.
This year, the SBV has undertaken measures to improve credit quality, direct credit to production and priority sectors and tighten control on that poured into high-risk areas, such as real estate, the stock market, Build-Operate-Transfer (BOT) and Build-Transfer (BT) transport projects. It has also strengthened risk management on consumer credit and provided enterprises and individuals with broader access to bank loans.
In 2022, Tú said the central bank will continue flexibly governing monetary policy tools in tandem with fiscal and other macro-economic policies to support post-pandemic economic growth.
Remittances up 10 per cent
Vietnamese abroad sent home some US$12.5 billion this year, a year-on-year increase of 10 per cent.
These are official numbers that must be used in reports, Tú emphasised.
About 28 per cent of the remittances to Việt Nam were sent through international money transfer companies, 7 per cent via credit institutions and 2 per cent by post.
The official said though Vietnamese living overseas have been also struggling due to the impacts of COVID-19, they remained devoted to the homeland, affirming that remittances are an important source of capital for Việt Nam at this time. — VNS
Read original article here
Newer News
29/11 VPBank receives loans from large financial institutions, affirming its reputation
29/11 Banks gain big profits from forex trading
29/10 Most banks expect better business performance in 2022
24/10 Challenges for banks in recovering bad debts
13/10 Increased pressure to raise interest rates
07/10 Investors warned of the possibility of corporate bond default
28/09 Commercial banks raise deposit rates after SBV’s adjustment
28/09 Foreign investment disbursement hits record high in nine months
23/09 Reference exchange rate up 8 VND
17/09 MoF proposes to reduce fees by up to 50 per cent to support transport sector
Older News
29/12 Credit growth likely to hit 14 percent in 2021: SBV Deputy Governor
29/12 Banks boost sales of mortgaged real estate to recover bad debts
25/12 A tael of gold in Việt Nam worth $500 more than world prices
23/12 Banking profit: positive but unsustainable at present
22/12 Vietnam foreign exchange reserves stable
20/12 Reference exchange rate down 13 VND at week’s beginning
17/12 Central bank promotes licensed consumer finance
16/12 Reference exchange rate up 7 VND
15/12 Reference exchange rate up 5 VND on December 15
13/12 Reference exchange rate up 32 VND at week’s beginning
Newsletter Signup
Top Stories
Banks gain big profits from forex trading
Pharmaceutical firms report positive results in Q3
Petrol prices surge in latest adjustment
Investors worried as speculative stocks plummet
Bank stocks hit by corporate bonds maturity
Market Update
Last updated at 3:05:05 PM
VN-INDEX 1,048.69 -44.98/-4.11%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.