Most local banks plan to restrict securities lending in this year. — Illustrative image hangxaxi.org

HÀ NỘI — More than 95 per cent of domestic banks plan not to provide new loans for securities investment, according to a recent State Bank of Việt Nam report on economic outlook for 2013. Forty five per cent will narrow credit in this area this year.

Financial news website cafef.vn quoted the report as saying that commercial banks would concentrate capital on lending into important commodity sectors to foster economic growth.

According to the source, about 87 per cent of banks won't increase credits for the real estate sector and 41 per cent will reduce property lending.

Up to 90 per cent of lending institutions expect to maintain and increase credits for areas prioritised by the Government, including agriculture and rural areas, export, support industries and small- and medium-sized enterprises. — VNS