Monday, December 5 2016

VietNamNews

Total assets of credit institutions exceed $359.6 billion

Update: November, 18/2016 - 10:00
Total assets of Vietnamese credit institutions increased to more than VNĐ8 quadrillion ($359.615 billion) by the end of September. - Photo thebank.vn
Viet Nam News

HÀ NỘI – Assets of Vietnamese credit institutions in September rose significantly by more than VNĐ198 trillion (US$8.8 billion) month-on-month thanks to a better performance, a State Bank of Việt Nam report showed.

Total assets increased to more than VNĐ8 quadrillion ($359 billion) by the end of the month.

Compared with the end of last year, total assets increased 10.55 per cent.

According to the new report, assets of all kind of credit institutions in September rose, of which State-owned commercial banks posted the highest growth of VNĐ94.5 trillion to more than VNĐ3.7 quadrillion. Joint stock commercial banks followed with a rise of VNĐ70.4 trillion to more than VNĐ3.2 quadrillion.

After reporting a decline of VNĐ15.4 trillion in August, assets of joint venture foreign invested banks rose again in September by VNĐ26.4 trillion to VNĐ826.8 trillion.

In September, charter capital of all credit institutions also rose sharply by VNĐ6.8 trillion month-on-month to more than VNĐ478 trillion. The rise in September alone was equal to 60 per cent of the total rise in the first eight months of the year.

By the end of September, the capital adequacy ratio (CAR) of the banking system was at 12.73 per cent, inching down from August. However, the ratio was still much higher than the 9 per cent regulated by the central bank.

Liquidity of the banking system was also abundant with short-term funds for medium- and long-term loans being good at 33.48 per cent. According to the current regulations, the proportion of short-term funds for medium- and long-term loans is 60 per cent for commercial banks, foreign banks’ branches and co-operative banks.

According to the central bank, the good proportion could be a positive base for it to stabilise interest rates and target a further lending cut next time. — VNS

 

 

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