Many lenders report high credit growth
Many lenders report high credit growth
A large number of commercial banks have posted high growth rates of outstanding loans, at roughly 30% between January and September this year.
VnEconomy newspaper reported that 22 out of 29 commercial banks had released their financial reports for the third quarter of this year.
As many as six banks have already exceeded the usual outstanding loan growth rate of 14%.
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam International Bank posted the highest rates of 28.4% and 28.2%, respectively.
In addition, Orient Commercial Bank and Tien Phong Bank had their rates at 20.7% and 20.4%, respectively.
By contrast, An Binh Commercial Joint Stock Bank was the only lender that recorded a negative growth rate of 0.1%.
The remaining banks reported credit growth rates of less than 14%. These included two major lenders, the Joint Stock Commercial Bank for Foreign Trade of Vietnam at 12.1% and the Bank for Investment and Development of Vietnam at 8.6%.
Outstanding loans among credit institutions are expected to edge up by 4.85% in the fourth quarter and expand by 13.61% this year, according to a survey published by the Monetary Statistics and Forecasting Department, under the State Bank of Vietnam, in September.
Apart from credit growth, capital mobilization in the banking sector is predicted to rise by 4.39% in the fourth quarter and 13.06% this year, down 0.42 percentage point compared with the previous prediction.
As of September 24, credit growth was recorded at 8.64% and capital mobilization rose by 9.03% against the figures seen in early 2019, according to the central bank.
