Economy
Fed’s foreseen rate cuts affect foreign exchange rate
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| The total assets of Vietnamese credit institutions rose more than 16 per cent by December 2016 to VNĐ8.5 quadrillion (US$374 billion). — Photo taichinh115.com.vn |
Viet Nam News
HÀ NỘI — The total assets of Vietnamese credit institutions rose more than 16 per cent by December 2016 to VNĐ8.5 quadrillion (US$374 billion), when compared with early 2016, the State Bank of Việt Nam reported.
According to the report, assets of all kinds of credit institutions in September rose, of which finance companies posted the highest growth of 30 per cent in the year to VNĐ114.37 trillion. The central bank attributed the rise in the assets of the finance companies to an acceleration in consumer lending and the establishment of many finance companies last year.
State-owned commercial banks and joint stock commercial banks both reported a growth of 17 per cent in assets to VNĐ3.86 quadrillion and VNĐ3.42 quadrillion.
Assets of joint venture and foreign banks in the year also rose nearly 10 per cent to VNĐ828.322 trillion.
However, among the total assets, State-owned commercial banks accounted for the largest amount with more than 45 per cent. Joint stock commercial banks followed with more than 40 per cent.
Besides assets, the charter capital of all credit institutions also rose more than 6 per cent to VNĐ488.4 trillion.
By the end of 2016, the capital adequacy ratio (CAR) of State-owned banks was under 10 per cent while the rate of joint stock commercial banks was 11.8 per cent. Joint venture and foreign banks had the highest CAR at 33 per cent. The ratio regulated by the central bank is 9 per cent.
The ratio of short-term funds used for medium- and long-term loans of the entire credit institution system was nearly 35 per cent on average, of which the ratio at State-owned commercial banks was 37 per cent, joint stock commercial banks was 40 per cent and finance companies was 45 per cent. — VNS
