Lending of the banking in Khanh Hoa Province in the first 8 months of 2018 reached VND101,774 billion, increasing by 28.88% year-on-year. In end August, credit grew by 12.04%, expected to fulfill targets of 2018.
Lending of the banking in Khanh Hoa Province in the first 8 months of 2018 reached VND101,774 billion, increasing by 28.88% year-on-year. In end August, credit grew by 12.04%, expected to fulfill targets of 2018.
At the end of August, total banking deposit in the whole province hit VND78,090 billion, increasing by VND4,258 billion over the figure in the beginning of the year (5.77%); credit balance reached VND74,550 billion, rising by VND8,011 billion over that in the beginning of the year (12.04%) and by 22.49% year-on-year. Credit has been distributed reasonably, towards production and business, especially preferential fields of the government. The bad debt rate has been kept low at 0.61%.
According to Vo Thi Thu Huong, Deputy Manager of Vietcombank Khanh Hoa, the bank branch has added more capital to retail channels, stepped up lending for production and trade with preferential interest rate packages for small and medium-sized businesses. Up to now, total deposit of Vietcombank Khanh Hoa has reached nearly VND8,000 billion; credit balance: VND10,000 billion; earning assets: VND18,000 billion. From now to the end of the year, beside increasing mobilization and credit, Vietcombank Khanh Hoa will focus on developing new customers. Representative of BIDV Khanh Hoa also confirmed that the bank branch is continuing growth with 19% over that in the beginning of the year, and its earnings before taxes.
At Agribank Khanh Hoa
As usual, credit is forecast to rise sharply in year-end months. With the growth rate of credit like now, the province’s banking will finish and may exceed targets of credit growth in 2018 which is 18 – 20%.
According to Nguyen Hoai Chieu, director of the State Bank - Khanh Hoa Branch, the banking will continue effective credit, focusing on production and trade. The banking also keeps coordinating with the local authorities to carry out measures to support borrowers suffering damages caused by the storm Damrey in 2017. Besides, the State Bank will intensify inspecting activities of credit institutions, carry out measures to control credit scale reasonably to prevent bad debts, ensure quality of credit and safety of the system…
Current deposit interest rates for under-1-month terms range from 0.1 to 1% per year; 1-month to under-6-month terms: 4.1 - 5.5% per year; 6-month to under-12-month terms: 5.1 - 6.5% per year; over-12-month terms: 6.8 - 7.8% per year.
VND lending interest rates for preferential borrowers are 6 - 6.5% per year for short terms; 6.5 - 10% per year for medium and long terms. Lending interest rates for other fields in production and trade are 7.5 - 10.5% per year and 10 - 11.5% per year for medium and long terms. USD lending interest rates are 3 - 4% per year for short terms and 4 - 6.5% per year for medium and long terms.
