By the end of July 2024, the total outstanding credit balance in Hanoi reached VND 3,937 trillion, up 1.12% over the previous month and up 8.84% over the end of 2023.
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Of which, short-term debt reached 1,682 trillion VND, up 1.38% and 11.76%; medium- and long-term debt reached 2,255 trillion VND, up 0.93% and 6.77%.
Outstanding loans under credit programs in Hanoi: loans under the bank-enterprise connection program account for 14.5% of total outstanding loans to the economy; loans to small and medium enterprises account for 18.9%; agricultural and rural programs account for 8.93%; export loans account for 5.14%; loans for supporting industries account for 2.32%; loans for high-tech enterprises account for 0.36%; social policy loans account for 0.43%.
Regarding capital mobilization, by the end of July 2024, the total mobilized capital of credit institutions in Hanoi is estimated to reach VND 5,436 trillion, up 1.45% over the previous month, and up 1.87% over the end of 2023.
Of which, deposits reached VND4,821 trillion, up 1.61% and 3.22%; issuance of valuable papers reached VND615 trillion, up 0.18% and down 7.6%.
In July, the State Bank continued to encourage credit institutions to reduce costs and implement a policy of reducing lending interest rates to support people and businesses in accessing bank credit capital. The average lending interest rate of domestic commercial banks for old and new loans with outstanding debt is at 7.3-9.5%/year.
The maximum short-term lending interest rate in VND for a number of priority sectors (agriculture, rural areas, exports, small and medium enterprises, supporting industries, high-tech enterprises) is on average about 3.6%/year according to regulations of the State Bank.
Accordingly, the deposit interest rate is commonly at 0.1 - 0.5%/year for non-term deposits and deposits with terms of less than 1 month; 2.6 - 4.5%/year for deposits with terms from 1 month to less than 6 months; 3.9 - 6%/year for deposits with terms from 6 months to less than 12 months; and for terms of 12 months or more, it is at 5.1 - 6.5%/year.
As of the end of July 2024, the bad debt ratio of credit institutions accounted for 2.1% of total outstanding loans. According to the State Bank of Vietnam, Hanoi Branch, credit institutions in the area focus on credit growth, offer many preferential credit programs and packages, and apply flexible interest rate policies. The liquidity of credit institutions in the area is guaranteed.
Source: https://baodautu.vn/ha-noi-7-thang-tin-dung-tang-884-d221068.html
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