HCM City loans rise 7.5% in 11 months

Monday, Nov 24, 2014 17:41

Loans in HCM City grew 7.5 per cent in the first 11 months of 2014. — Photo cafef.vn

HCM CITY (Biz Hub) ─ Credit institutions in this southern city lent a total of VND1,024 trillion (US$48.76 billion) in the first 11 months of this year, up 7.5 per cent over last December.

According to the local department of statistics, the value represented a 11.4 per cent increase over the same period last year.

Foreign currency loans accounted for 16.3 per cent of the total amount and posted a year-on-year rise of 10.9 per cent, while dong loans comprised 83.7 per cent with a year-on-year growth of 11.5 per cent.

Medium to long-term loans and short-term loans, representing 50.7 per cent and 49.3 of the total amount of loans, increased by 24.1 per cent and just 0.8 per cent year-on-year respectively.

In the first 11 months of this year, the credit institutions raised VND1,264 trillion ($60.19 billion) in deposits, up 14 per cent over the same period last year.

Deposits in foreign currencies and dong accounted for 15.6 per cent and 84.4 per cent of the total, rising by 12.5 per cent and 15 per cent year-on-year respectively. ─ VNS

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