Vietnam’s Banks Boost Govt.-supported Loans to VND395T since Early Feb-SBV
Banks and local financial companies have made soft loans of VND395.039 trillion (US$23 billion) since the government launched the subsidized lending program in early February, the State Bank of Vietnam (SBV) said on its Website.
In the week ending Aug 13, banks added VND5.932 trillion (US$332.996 million) to the economy, up 1.52% from a week earlier, the SBV noted.
Over the past week, lending rates of short-term loans denominated in Vietnamese Dong by commercial banks ranged 8.5%-10% per annum, while the rates of medium and long-term loans were 10%-10.5% per annum.
Also in the week, monetary transactions by local banks on the inter-bank market totaled approx US$5.4 billion, the Communist Party of Vietnam said on its Website Monday. (SBV, CPV)
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