October credit growth highest since the beginning of the year

Credit of the entire banking sector in Hai Duong increased by 8.1% compared to the end of 2023, the highest growth rate since the beginning of the year.

Specifically, the total outstanding credit balance of the entire banking sector in October 2024 reached nearly VND 144,850 billion, an increase of 8.1% compared to the end of 2023. This is the highest growth rate since the beginning of the year. In addition, the total outstanding credit balance at the end of October 2024 also recorded a growth rate of 18.3% over the same period in 2023, higher than the national average recently announced by the State Bank (16.65%).

Outstanding credit for rural agriculture continues to account for a high proportion of VND 53,084 billion, accounting for 36.6% of total outstanding loans, down 0.4% compared to the end of 2023, up 0.5% compared to the end of September.

Outstanding loans serving small and medium enterprises reached VND 25,548 billion, up 4.7% compared to the end of 2023. Outstanding loans serving exports were VND 7,673 billion, up 24.2% compared to the end of 2023. Outstanding loans for supporting industries were VND 8,327 billion, up 47.3% compared to the end of 2023.

In October 2024, although outstanding credit growth was impressive, the gap between mobilized and lent funds at banks across the province remained at more than VND 64,200 billion, nearly VND 6,000 billion higher than the same period in 2023.

The lending interest rate in Vietnamese Dong applied by banks in the province is commonly at 4.5-7.5%/year for short-term loans, from 7.5-9.5%/year for medium and long-term loans. In general, the basic lending interest rate decreased by 0.76%/year compared to the end of 2023.

Regarding credit growth management, according to the Governor of the State Bank, in 2024 the State Bank targets credit growth at about 15%, with adjustments in accordance with developments and actual situations. In 2022, credit will increase by 14.18%; in 2023, it will increase by 13.78%; by October 31, 2024, credit growth in the entire banking sector nationwide will reach 10.08% compared to the end of 2023, up 16.65% compared to the same period in 2023.

HA KIEN

Source: https://baohaiduong.vn/ngan-hang-nha-nuoc-chi-nhanh-tinh-hai-duong-tin-dung-thang-10-tang-truong-cao-nhat-tu-dau-nam-397734.html