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Hanoi sees credit grow 5.8% in six months
Ha An 10:51, 2019/07/02
By the end of June, bad debts accounted for 2.02% of the total outstanding credit and 2.27% of the total outstanding loans.
Total outstanding credit in Hanoi reached VND1,980 trillion (US$87.5 billion) at the end of this June, up 1 % against the previous month and 5.8% versus the end of 2018, the Government Portal reported.
On breaking down, outstanding loans totaled VND1,761 trillion (US$79.4 billion), accounting for 88.9% of the total lending, while outstanding investment reached VND219 trillion (US$9.4 billion), making up the remaining 11.1%.
 
Illustrative photo
Illustrative photo
Short-term outstanding loans stood at VND738 trillion (US$31.5 billion) at end-June, rising 1.1% against the previous month and up 6.2% against December of 2018. Meanwhile, long-term lending increased 1.2% month-on-month to VND1,023 trillion (US$43.7 billion).
VND-denominated loans climbed 6.9% compared to end-2018 to VND1,553 trillion (US$ 66.3 billion) while outstanding loans in foreign currency reached VND208 trillion (US$8.9 billion), up 4.2%.
Meanwhile, total mobilization in the city went up 6.1% from end-2018 to VND3,288 trillion (US$141.1 billion), the portal added.
Credit institutions in Hanoi have focused on improving credit quality and actively handling bad debts.
By the end of June, the credit institutions’ bad debts accounted for 2.02% of the total outstanding credit and 2.27% of the total outstanding loans.
In the first six months of 2019, the credit institutions have strictly complied with the regulations on interest rates. The rates of under six-month-term deposit are relatively steady while those of six months or more tend to increase in the middle of the year, encouraging customers to deposit for longer terms.
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