Banks with high outstanding loans can proactively increase their credit growth quota without having to send proposals and get approvals from the central bank, the SBV announced on Wednesday.
ESG outstanding loans of the banking system had grown steadily over the years, reaching about VNĐ2.9 quadrillion by the end of the first quarter this year, accounting for more than 21 per cent of the total.
Under the latest survey released last week, credit institutions forecast the rise of the outstanding loans in the whole year of 2024 will be 14.2 per cent, 0.4 percentage points higher than the forecast in the previous survey.
The increase in provision costs of banks in recent quarters was forecast previously as the sharp increase in bad debt of firms, especially in the real estate and export sectors.
Data of 17 listed banks showed their total outstanding loans for the real estate sector in the first half of 2023 reached VNĐ426 trillion, up 36.2 per cent compared to the end of last year.
The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its 2022 results audited by PwC, which shows profit before tax of nearly VND10.27 trillion (US$437.18 million), its highest ever and up 27.2 per cent from the previous...
Amid the central bank’s tight money policy and with the bond market screeching to a halt, many real estate companies thus find themselves cut off from sources of funds.
Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.
The banking industry sharply reduced outstanding loans for real estate business in the first half of 2021 and will continue such limits in the second half.
Total outstanding loans of credit institutions in HCM City as of August 31 were worth VND2.38 quadrillion (US$102.5 billion), an estimated 3.68 per cent up for the year.
The outstanding loans of twelve inefficient projects under the Ministry of Industry and Trade totalled nearly VND21 trillion (US$905 million) as of the end of 2019, most were overdue.
On February 7, the banking sector’s outstanding loans fell by 0.38 per cent for the year, while overdue debts and non-performing loans showed signs of rising.
The Government will continue to tighten credit in the real estate industry, requiring the Governor of the State Bank of ViEt Nam (SBV) to report to the Government quarterly in case of property developers with outstanding loans of more than...