21:33 (GMT +7) - Wednesday 07/12/2016

Banking & Finance

Hanoi credit growth up in April

Released at: 17:48, 25/04/2016

Hanoi credit growth up in April

Credit and mobilized capital in Hanoi both up against March and last December.

by Hung Nguyen

Total outstanding credit of financial institutions in Hanoi during April was estimated at VND1,297 trillion ($58.15 billion), 1 per cent more than in March and up 4.8 per cent against last December, the Hanoi Statistics Department reports.

Short-term credit was VND746 trillion ($33.45 billion), accounting for 57.5 per cent of the total and representing an increase of 1.7 per cent over March and 4.6 per cent over December, with medium and long-term credit at VND551 trillion ($24.7 billion), equal to March’s figure and 5.1 per cent higher than in December.

Loans accounted for 75 per cent of outstanding credit while the remainder was investment by bank finance companies in stocks.

Some 42.2 per cent of total outstanding credit was lent to small and medium-sized enterprises (SMEs) while 9.9 per cent was used for export activities, 9.1 per cent for consumption, 8.6 per cent for real estate, and 7.1 per cent for agriculture and rural development.

The Hanoi Statistics Department also reported that total mobilized capital by all financial institutions located in the capital during April was estimated at VND1,490 trillion ($66.81 billion), an increase of 3 per cent against March and 1 per cent against last December. Capital mobilized for terms of over 12 years accounted for 30.5 per cent of the total, while deposits represented 94.2 per cent, an increase of 3.2 per cent compared to March and 1.4 per cent compared to December, with valuable papers representing 5.8 per cent, an increase of 0.2 per cent against March but a decline of 5.1 per cent against December.

Of capital mobilized, 75.6 per cent was in Vietnam dong.

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