Credit growth climbs in capital

Monday, Nov 24, 2014 15:31

A bank employee counts money. Credit institutions in Ha Noi reached an outstanding loans of nearly $48 billion this year. — Photo

HA NOI (Biz Hub) ─ The total outstanding loans of credit institutions in the capital have reached about VND1,000 trillion (US$47.62 billion) this year, up 6.4 per cent over last year.

According to the local department of statistics, the growth rate was nearly double the 3.7-per cent increase recorded for the first ten months of 2014. This rise is in line with the general trend, in which lending often increases from the end of the third quarter, the department said.

This year, short-term loans have grown by 0.5 per cent, while medium to long-term loans have risen by 19.4 per cent. Deposits at the institutions totalled more than VND1,150 trillion ($54.76 billion), an increase of 10.2 per cent over the end of 2013. ─ VNS


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