Credit increased by 8.38%, which sector is accounting for the most outstanding debt?

ANTD.VN - In addition to priority sectors, real estate is the sector that accounts for a large outstanding debt in the total outstanding debt of the banking system.

According to information from the Department of Credit for Economic Sectors (State Bank), as of November 23, 2023, outstanding loans of the entire banking system increased by 8.38% compared to the end of December 2022, reaching 56% of the level assigned by the State Bank to credit institutions (CIs).

Accordingly, the remaining room from now until the end of the year for the entire system for credit institutions to expand credit growth is very large, about 6.2%, equivalent to credit institutions having about 735,000 billion VND left to provide credit to the economy.

With excess liquidity in the credit institution system and plenty of room for credit growth, credit institutions have favorable conditions to provide loans to the economy.

According to the State Bank of Vietnam, credit growth has not been high in recent times, mainly because the economy is still facing many difficulties, the recovery process is slow, so credit demand has decreased and the capital absorption capacity of businesses and the economy is still weak.

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Credit growth remains low by year-end

In the total outstanding debt of the system since the beginning of the year, the State Bank said that priority sector credit - especially agricultural and rural credit - and real estate credit are the two sectors that account for the largest proportion in the current credit structure.

Specifically, in priority sectors, credit to the rural sector accounts for the largest proportion, reaching outstanding loans of over VND 3.1 million billion, accounting for 24.52% of total outstanding loans of the whole economy, up 6.33% compared to the end of 2022.

Credit for small and medium enterprises reached over VND2.34 million billion, accounting for 18.34%, up 7.46% compared to the end of 202.

Credit for the export sector reached about VND 322,000 billion, accounting for 2.53%, up 11.61% compared to the end of 2022.

Credit for the supporting industry sector reached over VND 350,000 billion, accounting for 2.75%, up 18.54% compared to the end of 2022.

Credit for high-tech enterprises is about 45.4 trillion VND, accounting for 0.36%, up nearly 18% compared to the end of 2022.

Meanwhile, for areas with potential risks: Credit for BOT and BT transport projects is VND 92,300 billion, up 0.16% compared to the end of 2022, accounting for 0.72% of total outstanding credit to the economy.

Credit for investment and securities trading is over VND 81,000 billion, accounting for 0.64% of the total outstanding debt of the economy, an increase of nearly 93% compared to the end of 2022.

Real estate credit alone reached over VND 2.7 million billion, up 6.04% compared to the end of 2022, accounting for 21.46% of the total outstanding debt of the economy.

Loans for living needs reached over VND 2.7 million billion, up 1.53% compared to the end of 2022, accounting for 21.2% of outstanding loans in the economy.

Most recently, on November 29, the State Bank of Vietnam adjusted the credit growth limit for banks.

Previously, in July 2023, the management agency allocated credit limits to the entire credit institution system with a total growth allocation of 14.5% (close to the target set for 2023 of 14-15%).

However, by November 23, the credit growth of the entire system had only reached 8.38% and the credit growth was uneven, with some credit institutions growing quite high, some credit institutions growing low, or even negative. Therefore, in order to flexibly manage and meet the requirements of continuing to boost credit growth to serve capital needs for the economic recovery process, the State Bank has adjusted the credit growth target in the entire system from credit institutions that have not fully used up their credit growth target to credit institutions that need to continue to expand credit growth.

Accordingly, banks with a credit growth rate in 2023 reaching 80% of the credit target previously announced by the State Bank of Vietnam will be allowed to proactively increase the limit.

This additional level is determined by the bank itself based on its 2022 ranking score, while giving priority to credit institutions focusing on credit in priority areas and giving priority to banks that have reduced lending interest rates to low levels in recent times.

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