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VietNamNews

SBV survey finds optimism among domestic banks

Update: August, 01/2013 - 09:46

HA NOI (VNS)— More than 55 per cent of commercial banks had expected their business performance results this year to outstrip last year, while 14.1 per cent held the opposite opinion.

According to the latest survey conducted by the State Bank of Viet Nam's Monetary Statistics and Forecasting Department, 71.4 per cent of banks expected their profits to rise in H2 this year, although it was predicted as below 10 per cent.

As much as 65 per cent of banks predicted that their profits would increase this year while 78.4 per cent of last Decembers poll indicated that nowadays banks are more cautious about predicting a growth in profits in 2013 after the unexpected results in H1.

The business performance results of most of banks in the first half of this year left many disappointed. Only 30.4 per cent of banks said that their performance results had improved in H1 against 40.2 per cent in the December survey.

Nearly 50 per cent of banks also reported that their pre-tax profits had fallen, mostly between 20-30 per cent, over the same period last year.

However, banks are still optimistic about the future, saying that the business climate is improving at last. Most banks forecast that both deposit and lending interest rates will drop further over the next 3-6 months.

63.3 per cent of banks expect a better business outlook in the second half and only 3.8 per cent were pessimistic about the economic climate in the latter months of 2013. — VNS


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