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VietNamNews

Banks expect robust growth in 2015

Update: July, 18/2015 - 09:13

Good liquidity would be a key factor helping credit growth accelerate in the last two quarters, the banks said. They expect deposits to grow 6.8 per cent in Q3 and 15.8 per cent for the whole year. — Photo motthegioi

HA NOI (VNS)— The business performance of commercial banks is expected to improve in the third quarter, helping the banks achieve much better results in 2015 as against last year. In a recent survey of business sentiment among commercial banks by the State Bank of Viet Nam, the banks expressed optimism about economic recovery, customers' ability to absorb loans and banks' improving business in the third quarter. They expect pre-tax profit growth in the banking sector this year to average 8.9 per cent.

The sector could post annual credit growth of 18.2 per cent this year, higher than an earlier estimate of nearly 17 per cent, while bad debts may account for 2.49 per cent of total outstanding loans, below the Government target of 3 per cent, the survey found.

Good liquidity would be a key factor helping credit growth accelerate in the last two quarters, the banks said. They expect deposits to grow 6.8 per cent in Q3 and 15.8 per cent for the whole year.

Lending rates in Q3 are forecast to fall by roughly 0.13 percentage points, which will bring down the year's rates by 0.44 percentage points from the 2014 level. — VNS

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