Property industry insiders said the State Bank of Việt Nam’s decision to tighten credit would mean pain in the short term for developers but help the sector develop sustainably over the long term.
SSI Securities Corporation (SSI) on Thursday signed an unsecured loan contract worth US$55 million with a financial institution group, led by Taiwan’s SinoPac Bank.
Detailed support policies were needed to promote the development of social enterprises, experts have said.
Increasing the limits of unsecured loans given by banks will prevent people from approaching loan sharks, an online conference hosted by the State Bank of Việt Nam heard on Wednesday.
The State Bank of Việt Nam (SBV) recently decided to allow more commercial banks to expand their credit growth limits in 2018.
More commercial banks expect their credit growth limits to be expanded this year after Techcombank became the first to get the nod to do so from the State Bank of Việt Nam (SBV) recently.
The State Bank of Việt Nam has shown it is determined to continue with a tight monetary policy for the rest of the year with its decision to refuse to increase bank’s credit limits to constrain inflation and strictly control lending to high-risk sectors.