Tag: credit
Total assets of Vietnamese credit institutions rise by 4.97%
Total assets of the Vietnamese credit institution system by the end of June 2024 reached more than VND21.07 quadrillion, an increase of 4.97% compared to the end of 2023, the State Bank of Vietnam (SBV)’s latest data show.
PM hails social policy credit’s role in poverty reduction
Social policy credit has been a “highlight”, and a “pillar” in the system of policies aimed at alleviating poverty and ensuring social security, meeting the desire of the people, particularly impoverished and disadvantaged groups, over the past decade, Prime Minister Pham Minh Chinh said on August 14.
Factories, industrial parks urged to go green
Businesses, factories, industrial parks and export processing zones need to have road maps and measures for switching from traditional to green models to meet the global sustainable trend and enhance their competitiveness, and attract investment, a seminar heard in Ho Chi Minh City on August 8.
Banks pump over US$18.88 billion into economy in June
Banks lent more than VND480 trillion (US$18.88 billion) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6% to the end of Q2.
This year's credit growth target achievable: experts
As of June 30, credit expanded 6% compared to the end of 2023 while total outstanding loans approximated VND14.4 quadrillion (US$563.3 billion), a positive signal showing this year's credit growth target of 14 - 15% is within reach, experts said.
Credit growth soars in June
Credit growth has accelerating since the beginning of June, signaling that the 15% growth target is achievable, if the rate is maintained in the remaining months of this year.
Deposits at Vietnamese banks reach record high of US$628 billion
Despite low interest rates, bank deposits have reached a new historic peak of VND16 quadrillion (US$628.5 billion) as of the end of March, according to the latest data from the central bank.
Vietnam’s ratings affirmed at “BB+” with stable outlook
The US’s S&P Global Ratings affirmed its 'BB+' long-term and 'B' short-term sovereign credit ratings on Vietnam, with a “stable” outlook on the long-term rating, the website disclosure.spglobal.com reported on June 20.
Credit growth bright spot for banking
As of June 14, credit growth has reached 3.79% compared to the end of last year, marking a bright spot for the banking sector, according to the central bank.
Credit growth remains far from government’s target
Credit within the banking system to the end of May 2024 increased by only 2.41% against the end of 2023, far from the credit growth target, the Government reported.
