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Wednesday, June 19, 2024

Jan-Apr loans grow in HCMC

The Saigon Times

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HCMC – Credit in HCMC in the first four months of this year increased by 1.31% against December 2023 and 9.33% year-over-year.

Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV) branch in HCMC, said on May 15 that April saw a credit increase of 0.35% from the previous month and a total rise of 1.31% since the end of last year.

The credit growth rate in January-April aligns with those in 2020 and 2023 but remains lower than the rates in 2019, 2021 and 2022.

“Credit growth in the city has maintained an upward trend. After a decline in January, credit rebounded and continued to grow in the following months,” said Lenh. Notably, long-term credit grew by 1.96% during this period, outpacing the 0.6% growth in short-term credit.

During this period, local banks have provided significant financial support. They have restructured debt for over 40,500 customers, amounting to nearly VND46.8 trillion. They disbursed VND2.5 trillion in loans to 1,639 customers in the forestry and fisheries sectors.

Under the city’s bank-business connection program, banks have disbursed over VND184.1 trillion in preferential loans to 43,171 customers, including enterprises, household businesses, and cooperatives. These measures have helped local businesses maintain and even expand their operations amid challenging economic conditions.

Specifically, loans directed to enterprises within industrial and export processing zones have reached approximately VND222.2 trillion, a 3.8% increase from the end of last year and outstripping the overall credit growth rate in the city.

Loans for market stabilization reached VND3.6 trillion, aiding in the stability and price control of essential goods.

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