3:56:03 PM | 17/7/2009
Commercial banks and financial companies in HCM City have so far put from 14 percent to 15 percent of their total outstanding loan capital into the real estate sector.
Several big banks in the city have cautiously resumed real estate lending for projects that were proved highly feasible.
Recently, HCM City branches of five leading commercial banks have participated in providing a combined loan of VND1,200 billion for the US$200 million Crescent Mall project of the Phu My Hung JV Corporation (PMH).
The institutions are Vietcombank, Vietinbank, Bao Viet Bank, Gia Dinh Bank, and ACB.
Apart from Crescent Mall, a property project carried out by the Hoang Anh Gia Lai group has also received VND5,600 billion in a loan from the state-run Bank for Investment and Development of Vietnam (BIDV).
ACB, meanwhile, has recently announced that it would lend VND2,000 billion to individual customers who intended to buy houses on installment plans.
As of May 27, total outstanding loans at credit institutions in HCM City were estimated to have risen 10 percent against last year’s end to VND552 trillion while total deposits were reported at VND662 trillion. (Banking Times)
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