Vietnam Banks Extend Subsidized Loans to VND291.886T since Early Feb

Banks and finance companies in Vietnam had pumped an additional VND15 trillion in the week ended May 14 to the economy, extending subsidized loans to VND291.886 trillion (US$17.17 billion) since early February, the State Bank of Vietnam said on its Website.

 

In the week, banks and finance companies added VND10.241 trillion of short-term loans to the economy, up 3.76 per cent from a week earlier, raising the total subsidized short-term loans to VND282.184 trillion, the SBV said.

 

State-owned commercial banks and people’s funds lent VND203.865 trillion, up 2.54 per cent, commercial joint stock banks loaned VND64.609 trillion, up 7.17 per cent, joint venture and foreign banks made soft loans of VND12.606 trillion, up 6.47 per cent, and financial companies extended subsidized loans to VND1.103 trillion, up 9.43 per cent.

 

Banks and finance companies also pumped VND9.701 trillion (US$570.647 million) of subsidized medium and long-term loans to local firms in the week, up 105.1 per cent from a week earlier.

 

Of that sum, state-owned commercial banks loaned VND8.432 trillion, up 113.01 per cent, followed by commercial joint stock banks with VND1.037 trillion, up 82.15 per cent, joint venture and foreign banks with VND166.77 billion, up 23.3 per cent and financial firms with VND64.45 billion, up 2.79 per cent.

 

The government of Vietnam recently told mass media that it will speed up disbursements of the US$8 billion demand stimulus packages to boost the growth, state media said. (SBV, VNA)