Outstanding loans reach $43.7 billion in Ha Noi in 2013. — Photo nganhangonline.com

HA NOI (Biz Hub) – The total outstanding loans of credit institutions in Ha Noi amounted to nearly VND918 trillion (US$43.71 billion) in 2013.

According to a report by the State Bank of Viet Nam's Ha Noi branch, it was a year-on-year increase of 8.01 per cent that was below expectations as lending activities faced general economic challenges.

Lending growth improved significantly in the second half of the year as local credit institutions concentrated on loans for production and business activities, especially in sectors prioritised by the government, it said.

On December 31, 2013, the outstanding loans for agriculture and rural areas totalled VND47.77 trillion ($2.27 billion), up 17.78 per cent over the previous year. Loans for small- and medium-sized enterprises amounted to VND287.43 trillion ($13.69 billion), an increase of 7.82 per cent.

Medium- to long-term loans on December 31 accounted for over 32 per cent of the total loans, a year-on-year rise of 12.76 per cent.

Ha Noi has the largest amount of outstanding loans nationwide, amounting to 27.5 per cent of the total, according to the agency.

Meanwhile, the deposits at lending institutions in Ha Noi amounted to nearly VND1,035 trillion ($49.28 billion) in 2013, an increase of 15.39 per cent over 2012 and comprising 28.5 per cent of the total deposits nationwide.

Over 2,000 transaction offices of 410 credit institutions are operating in the city, the report said. — VNS