Business

HCM City’s banks maintain high growth

Banks in the southern economic hub of Ho Chi Minh City have maintained their high growth in 2016 compared to previous year, according to the Ho Chi Minh City branch of the State Bank.
HCM City’s banks maintain high growth ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Banks in the southerneconomic hub of Ho Chi Minh City have maintained their high growth in 2016compared to previous year, according to the Ho Chi Minh City branch of the StateBank.

Nguyen Hoang Minh, Deputy Director of the branchsaid on December 29 that total capital mobilization of credit institutions inthe city is estimated to reach 1.82 quadrillion VND (approximately 80 billionUSD), up 16 percent against 2015.

Total outstanding loans will go up nearly 19percent to hit 1.56 quadrillion VND (about 68 billion USD) compared to the endof last year. 

The city’s banking sector has reached the creditgrowth rate target of 18 – 20 percent in 2016.

According to the Vietnam General Office ofStatistics, the credit growth of the national economy reached 16.46 percent asof December 20. Banks’ capital mobilisation upped 16.88 percent and deposit interestrates remained stable.

The year’s average VND/USD exchange rate showeda year–on–year increase of 2.23 percent and the average core inflation rate went up by 1.83 compared to the previous year. -VNA
VNA
#banks#banking performance#outstanding loans#credit growth
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