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VietNamNews

Bank assets rise 13% on State bank growth

Update: February, 26/2014 - 08:37
Commercial bank assets increased 13 per cent in value in 2013. — Photo ndh

HA NOI (VNS)— Commercial bank asset values totalled over VND5,700 trillion, or US$271.43 billion, at the end of last year, up 13 per cent over the previous year.

This was reported by VnExpress online which cited State Bank of Viet Nam sources.

State-owned banks led all credit institutions, with total assets amounting to VND2,500 trillion, or $119.05 billion, which is about VND100 trillion, or $4.76 billion, higher than that of joint stock banks.

The State-run sector also showed a greater lending ratio, as with every deposit of 100 dong, it could lend 95 dong. The ratio for the joint stock area was 100/75.

Bank equities grew 6.54 per cent in 2013 to reach a combined VND195 trillion, or $9.29 billion, at the end of the year, despite challenges related to credit growth, profitability, bad debts and declining capital throughout the year.

The health of financial companies worsened, with equities slumping 75 per cent and asset values plummeting 57 per cent in 2013. — VNS


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