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Saturday,  Nov 25,2017,04:56 (GMT+7)

Loan growth in HCMC put at 11%

The Saigon Times Daily
Friday,  Aug 25,2017,13:51 (GMT+7)
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Loan growth in HCMC put at 11%

The Saigon Times Daily

HCMC – Credit in HCMC grew 11% to VND1,600 trillion (US$70.41 billion) at the end of July compared to early this year, said Nguyen Hoang Minh, deputy director of the HCMC branch of the State Bank of Vietnam.

According to Dau tu Chung khoan newspaper, credit institutions in the city mobilized nearly VND1,900 trillion, up 6.08% versus the end of last year, in which savings made up a staggering 52.86%.

Banks reported impressive growth in deposits in Vietnam dong compared to last year, which helped meet the high demand for capital in the city.

Medium and long-term loans accounted for over 51% of total outstanding loans, creating favorable conditions for enterprises to expand operations, update technologies and get involved in infrastructure projects.

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