Credit in Ha Noi's commercial banks in the first seven months of the year rose 11.8 per cent against December last year to reach VND1,384 trillion (US$61.785 billion). — Photo vneconomy.vn

HA NOI (Biz Hub) — Credit in Ha Noi's commercial banks in the first seven months of the year rose 11.8 per cent against December last year to reach VND1,384 trillion (US$61.785 billion), the Ha Noi General Statistics Office estimated.

The increase in credit was lower than the 12.5 per cent increase in H1 2015.

Short-term loans rose 10 per cent, while medium- and long-term loans surged 12.2 per cent, the office said.

In the first seven months, Ha Noi-based banks also mobilised VND1,568 trillion, up 6.3 per cent.

Of the total, capital in Vietnamese dong accounted for nearly 78 per cent.

The deposit interest rate in the period remained stable at 4.5-5.4 per cent per year on average for short-term deposits and 5.4-7.2 per cent per year for terms of more than six months.

The central bank aims to achieve credit growth of 18 per cent this year. Industry insiders said the target was feasible as lending often surged sharply in the second half of the year. — VNS