(HBO) – The State Bank of Vietnam’s branch in Hoa Binh has mapped out orientations to direct banks and credit organisations in the northern province to implement key tasks in the field, thus realising the sector’s main monetary targets and contributing to local stability and economic growth.

 LienVietPostBank currently records outstanding loans of over 1.2 trillion VND.

By the end of 2019, the total operation capital of credit institutions in the province exceeded 26.5 trillion VND, a year-on-year rise of 13.4 percent. Total outstanding loans in the province surpassed 22.9 trillion VND, up 9.1 percent against the previous year. Of which, short-term loans accounted for 42.1 percent, medium-and long-term ones 57.9 percent.

Banks and credit institutions, especially commercial banks, all saw an increase in outstanding loans, notably joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) 13.8 percent, Vietnam joint Stock Commercial Bank for Industry and Trade (Viettinbank) 8.2 percent, Military Commercial joint Stock Bank (MB) 17 percent, Lien Viet Post joint Stock Commercial Bank (LienVietPostBank) 7.3 percent, and Vietnam Prosperity joint Stock Commercial Bank (VPBank) 1.8 percent.

In 2019, the total bad debts were estimated at 258 billion VND, making up 1.12 percent of the total outstanding debts, down 157 billion VND compared to 2018.

Banks and credit organisations have worked out measures to remove difficulties for businesses and pay attention to investment in local economic development. They have also actively carried out preferential credit programmes and provided loans for poor households and social welfare beneficiaries in prioritising fields as directed by the State Bank of Vietnam such as rural and agriculture.

In 2020, the provincial State Bank of Vietnam branch strives to increase the mobilisation of capital by 16 percent or more. Outstanding loans are estimated to climb by 14 percent while the ratio of bad debts below 3 percent./.


Related Topics

Credit institutions remove difficulties facing enterprises, people amid COVID-19 pandemic

(HBO) – The State Bank of Vietnam (SBV)’s branch in Hoa Binh province (SBV Hoa Binh) has proactively implemented measures to remove difficulties facing its individual and corporate clients who are affected by the COVID-19 pandemic.

Orange as gift wins three-star OCOP rating

(HBO) - The product "Oranges - premium gifts” of the 3T Cao Phong agricultural cooperative has been granted a three-star rating for OCOP product at the provincial-level. The cooperative has built the "three good” criteria for its farm products - good soil, good seed, good heart – with the goal of making a real difference between its oranges and other types of oranges produced in Cao Phong district.

Efforts to building new rural areas take on new depth

(HBO) – As of the end of 2019, 88 out of the 191 communes in Hoa Binh were recognised as new-style rural areas, up 25 compared to the previous year.

Hoa Binh steps up trade promotion, farm produce brand building

(HBO) - Over the past years, Hoa Binh province has created conditions for businesses specialising in agricultural products in the locality to meet their counterparts nationwide in order to seek cooperation opportunities and expand markets. The move aims to promote trade and build brand names for local agricultural products, especially high-quality ones.

FDI pledges to Vietnam reach US$8.55 billion in first quarter

Foreign direct investment (FDI) pledges to Vietnam in the first three months of 2020 fell by a sharp 20.9% over the same period of 2019 to US$8.55 billion, according to the Foreign Investment Agency.

Banks move to help borrowers cope with COVID-19’s impact

(HBO) – In the face of the COVID-19 pandemic’s impact on many economic sectors, some commercial banks in Hoa Binh province have decided to extend debt payment deadlines, not charge interest on late payments, and assist people and businesses to access preferential loans to overcome difficulties.