Outstanding loans of credit institutions in the northern province of Bac Giang touched VND34.4 trillion (US$1.52 billion) in the first seven months of 2017, up 10 per cent since last December.

Of this, short-term loans added up to VND18.2 trillion, while medium- and long-term loans were estimated at VND16.2 trillion, said Nguyen Van Oanh, deputy director of the State Bank of Viet Nam’s branch in the province.

The credit of State-owned enterprises in this seven-month period was VND1.88 trillion, of households was VND2.3 trillion, and of private companies was VND10.2 trillion.

Outstanding loans in the industrial sector reached VND6 trillion, and in the agriculture and forestry sector was VND10.2 trillion, while that of all other sectors came to VND18.1 trillion.

Banks in Bac Giang Province have prioritised loans for agriculture, rural areas, hi-tech agriculture, small- and-medium sized enterprises (SMEs), start-ups, and market stabilisation activities.

Several commercial banks in the region have launched multiple credit packages for micro-businesses and SMEs. For instance, Vietcombank offered a VND10 trillion preferential loan package, while BIDV launched a VND20 trillion package to support firms in the locality.

Oanh said there had been high credit growth as banks have taken steps to resolve difficulties that businesses face in getting loans. In addition, credit institutions have also promoted loans in the agriculture and rural development sector, as well as to poor households.

The central bank’s branch in Bac Giang has asked credit institutions in the province to strictly implement regulations on monetary and banking activities while co-operating with concerned industries to resolve bad debts and prolonged credit-related lawsuits, he said.

Banks would also focus on implementing flexible, synchronous solutions to facilitate capital mobilisation and lending. The province would implement programmes effectively to connect banks and businesses, and stabilise the market. — VNS