Wednesday, November 14 2018

VietNamNews

NPLs in property drop significantly

Update: November, 25/2017 - 09:00
Bad debts in the real estate sector have dropped significantly since 2013. - Photo kinhtedothi.vn
Viet Nam News

HÀ NỘI — The ratio of non-performing loans in the real estate sector has dropped significantly since 2013, according to the State Bank of Việt Nam’s Credit Department of Economic Sectors.

Statistics showed that real estate NPLs dropped from 7.05 per cent in 2013 to 4.06 per cent as of July 31.

Governor of the State Bank of Việt Nam Lê Minh Hưng at a recent hearing of the National Assembly said lending for the real estate sector accounted for 7.1 per cent in the first 10 months of this year, compared with 10 per cent last year.

The central bank would continue to control credit flow into the property sector. — VNS

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