HCMC – Total outstanding loans in HCMC in July stood at around VND3.68 quadrillion, inching down by 0.09% against the previous month, following five consecutive months of steady growth.
Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s HCMC branch, attributed the modest drop in credit to the maturity of short-term loans and foreign currency credit.
However, he noted that macroeconomic stability and the recovery of the manufacturing sectors are expected to be key drivers in sustaining credit growth in the future.
Credit outstanding for the five priority sectors—small and medium-sized enterprises (SMEs), exports, agriculture and rural development, supporting industries, and high-tech enterprises—reached VND1.65 quadrillion in July, a 3.2% increase over the previous month.
Credit for SMEs made up 83% of the total credit for these five priority sectors, aiding in the recovery and growth of businesses and contributing to the city’s recent economic progress.
In terms of business support activities, the banking sector in HCMC organized 26 networking conferences over the past seven months, successfully disbursing VND306.4 trillion in credit to support over 97,000 businesses, households, and cooperatives.
