5 months: Credit increased by 6.53%

This is considered a high increase compared to recent years when in the same period 2016 it increased by 5%, 2015 it was 4.5%.

The State Bank has just announced a report on banking activities in the first 5 months of the year, stating that as of May 25, 2017, credit increased by 6.53% compared to the end of 2016.

Regarding total means of payment, as of May 19, it increased by 4.41% compared to the end of 2016, capital mobilization increased by 4.11%, liquidity of the banking system was guaranteed, meeting the credit growth needs of the economy and investment in government bonds.

Bank credit increased sharply after 5 months.

The interest rates for deposits and loans of credit institutions are stable. Some banks apply loan programs for some customers with preferential interest rates. Currently, the common loan interest rate is about 6-9% per year for short term and 9-11% per year for medium and long term; for good customers, the short term loan interest rate is 4-5% per year.

The State Bank continues to direct banks to cut costs and improve business efficiency to stabilize deposit interest rates and strive to reduce lending interest rates.

According to VNE