In the beginning of the year, banking of Khanh Hoa Province set a credit growth target of 12 – 14%. Up to now, the province's credit has grown by over 13%. The State Bank of Vietnam – Khanh Hoa Branch forecasts the credit growth may reach 14 – 15% for the whole year...
In the beginning of the year, banking of Khanh Hoa Province set a credit growth target of 12 – 14%. Up to now, the province’s credit has grown by over 13%. The State Bank of Vietnam – Khanh Hoa Branch forecasts the credit growth may reach 14 – 15% for the whole year.
Implementing the directions of Governor of the State Bank of Vietnam for ensuring safe and effective currency policies and banking 2014, right in the beginning of the year, the State Bank of Vietnam – Khanh Hoa Branch supplied concrete guidance for commercial banks in the province. As a result, 10-month credit growth fulfilled the whole year’s target. Till end October, the debit balance was VND29,457 billion, increasing by 13.55% over that in the beginning of the year. Moreover, loans from banks have supported the province’s socioeconomic development effectively. At present, loans with under 11%/year interest rates make up 79.81% the total debit, and those with under 9%/year interest rates seize 44.19%. The rate for production – business makes up 81.9% of the total loans with under 11%/year interest rates and 46.01% of the total loans with under 9%/year interest rates.
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Khanh Hoa banking also has developed effectively measures to solve difficulties for enterprises and specific credit policies. The most remarkable is the linking between banks and enterprises to supply low-interest capital for enterprises. In framework of this program, 3 dialogues between banks and enterprises and a preferential support signing ceremony were organized. Additionally, 8 commercial banks committed lending 85 enterprises with more than VND2,157 billion in total.
About lending for housing support, Khanh Hoa is one of the provinces highly appreciated in carrying out this program. Commercial banks in the province have solved loan applications quickly. Till end October, all of 552 applications for VND184.9 billion in total were disbursed. Vietcombank Nha Trang, in particular, disbursed VND141 billion for VND435 applications.
Khanh Hoa had one company chosen for the lending program for the chain link model, namely Ninh Hoa Sugar Joint Stock Company. With the project of investing and purchasing sugarcane in Khanh Hoa Province and M’Drak District in Dak Lak Province, the company has been committed to a loan of VND162 billion by Vietcombank Nha Trang. Lending activities for small and medium-sized enterprises and beneficiaries of social welfare also have been done well.
Accounting for the early target reach of the province’s banking despite the difficult economy, Director of the State Bank – Khanh Hoa Branch Doan Vinh Tuong said, “The first reason is the banks’ economical calculations and initiative in controlling the market. Then, owning to active directions of the provincial Party Committee, People’s Council and People’s Committee to solve difficulties for enterprises and banks as well as suiltable policies and the banks’ efforts to push capital into production and business to impulse the credit growth.”
In the year-end time, enterprises are forecast to raise capital demand for production and trade for the Lunar New Year Festival 2015. Correspondingly, commercial banks have to supply more capital for enterprises. Capital for agriculture also will be attached importance to as crops are coming…
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