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Wednesday,  Apr 25,2018,17:22 (GMT+7)

Credit growth reaches 2.23% in quarter one

The Saigon Times Daily
Wednesday,  Apr 4,2018,20:09 (GMT+7)
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Credit growth reaches 2.23% in quarter one

The Saigon Times Daily

HCMC – Credit growth in the national economy reached 2.23% in the first quarter of this year, compared with 2.81% in the year-ago period, according a report of the General Statistics Office.

The report was quoted by news website Nguoi Dong Hanh as saying that money supply rose 3.23% against late 2017, and 2.88% year-on-year.

Capital mobilization by commercial banks increased 2.2% against late last year, and 2.43% from a year earlier.

The report also indicates interest rates for Vietnamese dong are at 0.6-1% a year for call deposits. The figures range from 4.3% to 7.3% for deposits of one month and over 12 months.

Lending interests for sectors high on the Government’s lists of priority are 6-6.5% a year. The rates for other production and trade sectors are 6.8-9% for short-term loans, and 9.3-11% for medium- and long-term loans.

The insurance market in quarter one also grew in a positive manner. The total insurance premium revenue rose by an estimated 19% against the year-ago period, of which life and non-life insurance increased 28% and 9%, respectively.

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