Four banks in Huaphan exceed lending expectations
Four banks in Huaphan exceed lending expectations
Four banks in Huaphan province have issued loans worth about 518.47 billion kip to the production sectors for export, construction, trade and services in the first nine months of this fiscal year 2013-14 exceeding expectations.
The production sectors are mainly involved in the production of crops, livestock, handmade and processing industries for export. The agricultural sector was covered by the largest amount of loans at about 118.24 billion kip, a provincial Planning and Investment Department reported recently.
The banks are Lao Development Bank (LDB), Agricultural Promotion Bank (APB), Banque Pour Le Commerce Exterieur Lao Public (BCEL) and Nayoby Bank.
The largest amount of loans was issued by LDB with around 174.93 billion kip lent and that represented about 97.34 percent of their plan for the current fiscal year. The loans included around 12.37 billion kip for short term lending, 160.07 billion kip over the medium term and 980 million kip in long term loans.
The second largest amount of loans was issued by APB at about 113.47 billion kip, which was about 89.21 percent of their fiscal year plan. The loans included about 14.04 billion kip for the agricultural sector, around 7.31 billion kip for the handmade and industrial sector, 13.34 billion kip for the construction sector and around 63.73 billion kip for the trade and services sectors.
The third ranked bank for loans issued was BCEL with about 109.96 billion kip and that was about 97.50 percent of their fiscal year plan. The loans included about 5.27 billion kip for the agricultural sector; 71.17 billion kip for the construction sector and the rest were for various sectors, including trade and services.
The last credit provider was Nayoby Bank that issued loans worth more than 120.11 billion kip and that represented about 103.30 percent of their plan.
Nayoby Bank's loans included around 21 billion kip for crop plantations, which was about 135.69 percent of their plan. About 77.93 billion kip was disbursed for livestock breeding and that was about 161.77 percent of the plan.
The loans for handmade production were about 16.27 billion kip, about 149.25 percent of the plan and the rest of the loans were for the processing industry at about 1.28 billion kip and trade and services at about 3.61 billion kip.
Huaphan is aiming for an increase in the agricultural production sector, with the hopes the sector will cover a larger amount of the social economic development next 2014-15 fiscal year due to the province's potential in crop and meat production.
Next fiscal year the province's gross domestic product (PGDP) will possibly be worth more than 2 trillion kip, with the income per capita set to be about 6.61 million kip per person per year. The agricultural sector will cover 52.78 percent of PGDP.
The province expects the PGDP value to be around 1,746 billion kip, with an annual income per capita of about 5.93 million kip for the current 2013-14 fiscal year. The agricultural sector is expected to cover 54.54 percent of PGDP; hopefully a 15.95 percent increase from the 834.46 billion kip last fiscal year.
The four banks also attracted deposit accounts worth more than 498.42 billion kip, including LDB with deposits of 208.97 billion kip which was about 94.14 percent of their plan, APB had about 130.25 billion kip, around 81.91 percent of their plan and BCEL attracted 159.20 billion kip in deposits which was about 96.66 percent of the plan.
vientiane times
