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SBV asks banks to prioritize loans for production and business
Friday,  Jan 26, 2018,22:47 (GMT+7)

SBV asks banks to prioritize loans for production and business

HCMC – The State Bank of Vietnam (SBV) has told local banks and foreign bank branches to increase lending to production and business activities, according to a Thoi Bao Ngan Hang newspaper report.

SBV governor Le Minh Hung asked banking institutions to strictly control their credit growth in line with their assigned targets and the central bank’s monetary policy.

Credit growth and quality should go hand in hand, he said. Loan assessment and supervision should be properly done to minimize non-performing loans, and guarantee safety for the banking system.

Loans for the real estate and construction sectors should be put under control. Lender banks should monitor the progress of the property projects to which they have lent, and check their clients’ financial capability, creditworthiness and assets used as collateral.

They should also control the quality of consumer loans, and improve the efficiency of the loan approval process to reduce risks.

They should strictly control lending to stock investors to minimize risks in line with the SBV’s Circular 19/2017/TT-NHNN amending and supplementing a number of articles of Circular 36/2014/TT-NHNN which provides safety limits in the banking sector.

Loans should be prioritized for production and business activities, especially in agriculture, export and supporting industries, and small and medium, and hi-tech enterprises.

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