Deposits at Vietnam Banks +9.88 per cent, Total Loans +11.16 per cent Since Early 2009
Deposits at banks in Vietnam have risen 9.88 per cent since early 2009 while total outstanding loans have jumped 11.16 per cent, the government of Vietnam said.
In April, deposits at local credit institutions were up 3.74 per cent while total outstanding loans soared 4.86 per cent from a month earlier, the state-run Saigon Liberation newspaper said, quoting the State Bank of Vietnam, the country's central bank.
Vietnam's money supply, M2, was up 11.4 per cent between January and April, the SBV said.
Of the deposits in the period, dong-denominated deposits soared 4.52 per cent while foreign currencies-denominated deposits surged 1.07 per cent, the government said.
Fitch has cautioned Vietnam that it should support credit quality on the fiscal stimulus measures and it was also concerned with Vietnamese banks' profitability and balance-sheet strength.
In the financial year of 2008, the profitability of Vietnam's banks was generally good.
Credit growth was low at 21 per cent-22 per cent and bad debts by the whole banking system in Vietnam were 3.5 per cent last year. (chinhphu.vn, Saigon Liberation)
Vietnamese
