The total outstanding loans in Ha Noi was estimated at VND1.6 quadrillion (US$70 billion) in the first half of this year, according to the State Bank of Viet Nam’s Ha Noi branch.

It represented a rise of 8.15 per cent over December 31, 2016 and 16 per cent over the same period last year.

The credit mainly went into business and production, with 41.9 per cent of the outstanding loans pouring into small- and medium-sized enterprises, 7 per cent for agriculture and rural sector, and 9.8 per cent for export.

Deposits in credit institutions in the capital city rose 5.39 per cent in the first six months of this year over the end of last year to touch VND1.7 quadrillion.

The central bank’s Ha Noi branch said that the deposits met the capital demand of businesses and other investments, as well as ensured liquidity.

Overdue debts accounted for 2.82 per cent of the total outstanding loans.

Deposit rates for Vietnamese dong were around 4.5 per cent to 5.5 per cent per year for a term of six to 12 months and 6.5 per cent to 7.8 per cent for more than 12-month term.

Lending rates were at 6 per cent to 7 per cent for short-term loans and 9 per cent to 10 per cent for medium- and long-term loans.

The foreign exchange rates were also stable in the first half of this year, according to the central bank’s Ha Noi branch. – VNS