A Sacombank office in HCM City (Photo courtesy of the bank)Nguyen Duc Lenh, deputy director of the branch, said credit growth hadrebounded as the pandemic had been put under control and the economy returnedto normal.
He added that credit growth was expected to give extra leverage topost-pandemic economic recovery.
The banking sector would continue to offer credit support programmes to helpfirms restore production based on the guidelines and regulations of theGovernment and the central bank.
The measures include debt restructuring, interest rate exemption and reduction.
Commercial banks in the city have provided 1,851,864 customers with creditsupport programmes worth 3.2 quadrillion VND (139.1 billion USD), according toLenh.
As of the end of February, the city’s total outstanding loans were estimated atmore than 2.9 quadrillion VND (126 billion USD), up 12 percent year-on-year.
In addition, outstanding loans provided by the HCM City-based Vietnam Bank forSocial Policies reached 7.186 trillion VND as of February, up 2.9 percentyear-on-year.
Outstanding loans for addressing unemployment and sustainable poverty reductionaccounted for the highest, about 57 percent of the total outstanding loansprovided by the Vietnam Bank for Social Policies.
In addition, the foreign exchange rates remain stable in line with the centralbank guidelines.
The central bank has increased its exchange rate between the dong and the USdollar by 0.08 percent as of the end of March, while the exchange rate atcommercial banks was up by 0.35 percent.
Non-performing debt is well controlled below the prescribed level, he said.Commercial banks continue to promote e-banking services.
Meanwhile, deposit mobilisation by credit institutions in HCM City grew by 1.29percent as of February 25.
Deposits in dong were up by 1.3 percent for the year, while deposits in foreigncurrencies were up 1.24 percent.
Experts said credit growth had rebounded on surging capital demand and firmsramping up production.
They recommended that the Government and central bank continue offering morestimulus packages, accelerate public investment disbursement, and removechallenges to boost credit growth.
The central bank plans to raise the country’s credit growth target to 14 percentthis year, compared to 12 percent last year./.
VNA
