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Commercial banks asked to report businesses' credit access

Update: February, 21/2012 - 18:09

Ha Noi—The State Bank of Viet Nam (SBV) today asked commercial banks to submit reports detailing their credit access for businesses.

SBV also requested information on the difficulties and outdated regulations that businesses encounter when they apply for credit. Commercial banks should include suggestions on how to improve credit access and business efficiency in the future.

Last week, SVB announced that it would allocate credit growth rates for commercial banks and credit institutions ranging from zero to 17 per cent this year. Rates would be based on the performance and health of these organizations.

So far only three institutions are known to receive such high credit growth rates: Maritime Bank has been granted 17 per cent and both VP Bank and Nam A Bank stand at 15 per cent this year. Others have not been announced yet.

Credit institutions and commercial banks are classified into four groups based on SBV criteria. Group A will be allocated the highest credit growth rate of 17 per cent for the year; Group B will receive 15 per cent; Group C, 8 per cent and Group D, zero per cent.—VNS.

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