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Banking & Finance

Outstanding credit in HCMC up 7%

Released at: 08:08, 29/07/2015

Outstanding credit in HCMC up 7%

Figure reaches $52.24 billion for January - July.

by Hung Nguyen

A report from the Ho Chi Minh City People’s Committee showed that total outstanding credit in the city for the first seven months stood at VND1,140 trillion ($52.24 billion), an increase of 7 per cent compared with the first seven months of 2014.

Outstanding credit in Vietnam dong reached VND977.7 trillion ($44.80 billion), an increase of 8.2 per cent year-on-year, while credit in US dollars was VND165 trillion ($7.56 billion), an increase of 0.29 per cent.

Medium and long-term outstanding credit rose 13 per cent since the end of 2014, accounting for 54.5 per cent of the total, while short-term outstanding credit increased 0.79 per cent since the end of 2014, accounting for 45.5 per cent of the total.

Total credit growth in the city was some 7 per cent, with an annual target in place of 13-15 per cent. 

Regarding mobilized capital, at the end of July it is expected to be VND1,420 trillion ($65.07 billion), an increase of 6 per cent since the end of 2014.

Remittances in the first seven months are estimated at $2.4 billion.

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