Bank credit growth in HCM City marginally up in January
Bank credit growth in HCM City marginally up in January
Total loans outstanding at banks in HCM City at the end of January were worth VNĐ 3.9 quadrillion (US$153.5 billion), up 0.04 per cent from the end of 2024 and 12.4 per cent year-on-year, according to the central bank.
Customers conduct transaction at a bank branch in HCM City. Total loans outstanding at banks in the city at the end of January were up 0.04 per cent from the end of 2024 and 12.4 per cent year-on-year. — VNS Photo |
The State Bank of Việt Nam (SBV) said the rise was in contrast to the previous two years: loans outstanding had declined by 0.93 per cent in January 2024 and by 0.48 per cent in January 2023.
Nguyễn Đức Lệnh, deputy director of the SBV’s HCM City office, attributed the increase to factors such as strong growth in trade, services, tourism, and export orders.
Joint stock banks accounted for the largest share of credit: 56.7 per cent.
Foreign banks, which accounted for 9.5 per cent of loans outstanding, recorded strong growth of 1.36 per cent month-on-month.
Lệnh said the banking sector would focus on effectively implementing the bank-business connectivity programme and disbursing credit packages to small and medium-sized enterprises and export businesses and for consumption.
