Domestic credit institutions disbursed VND178.7 trillion (US$10.57 billion) of loans with subsidized interest rate of 4 per cent as of March 26, up 17.65 per cent, or VND26,819 billion from a week earlier, the State Bank of Vietnam (SBV), the country’s central said on its website.
Of the sum, state-owned banks and central credit funds loaned VND133,602 billion (US$7.9 billion), up 15.5 per cent from the previous week.
Joint stock banks provided VND37,265 billion (US$2.2 billion) and foreign banks and joint-venture banks VND7,559 billion (US$447.2 million), up 17.4 per cent and 67.5 per cent, respectively. The remaining VND296 billion (US$17.5 million), meanwhile, was lent by finance companies.
The SBV also said that VND107.17 trillion, or 60 per cent, out of total low-cost loans had been provided for non-state sector, including private, limited, joint stock, and FDI companies. The state-owned enterprises had borrowed VND65,686 billion during the time, accounting for 36 per cent.
Individuals and households, meanwhile, were lent VND4,968 billion.
The SBV, the country’s central bank, has recently forecast total credit supply to rise between 21 per cent and 23 per cent with VND630 trillion (US$37.28 billion) of low-cost loans to be provided this year.
Amid the global downturn, the World Bank and the IMF have revised down Vietnam’s GDP growth rate to 5.5 per cent and 4.75 per cent, respectively from 6.5 per cent and 5 per cent, state media said. (Vietnam Banking Times, SBV)
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