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Loans to real estate at 16.8% of total

Update: October, 10/2017 - 16:00
Loans to the real estate sector accounted for 16.8 percent of the total outstanding loans of credit institutions in the first nine months. — Photo cafef.vn
Viet Nam News

HÀ NỘI — By September-end, loans to the real estate sector accounted for 16.8 per cent of the total outstanding loans of credit institutions.

This was down from 17.1 per cent at the end of last year, reports from the National Financial Supervisory Commission showed.

According to the report, 10.3 per cent of the loans were given to the construction industry and 6.5 per cent were for real estate trading.

The commission also reported that credit growth of the entire banking system by the end of September was 11.5 per cent. The rise would be 12.9 per cent if loans for bonds were included.

Medium- and long-term loans during the period were on an upward trend, rising 10.7 per cent and accounting for 54 per cent of the total outstanding loans of all credit institutions.

Loans in the Vietnamese đồng surged 13 per cent and made up roughly 91.6 per cent of the total loans, unchanged as compared to the same period last year.

However, the proportion of loans in foreign currencies rose up to 12.9 per cent, much higher than the 5.4 per cent in the same period last year.

To better control the lending, the SBV governor Lê Minh Hưng last month issued a document warning credit institutions and foreign bank branches to strictly implement regulations on foreign currency deposits and loans. — VNS

 

 

 

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