Nghe An: Credit growth low in the first 6 months of the year.
(Baonghean.vn) - Although credit institutions have launched many large-scale preferential interest rate loan programs, the demand for loans to expand production, business, and consumption among customers during the Covid-19 pandemic has tended to decrease, resulting in low credit growth.
According to the State Bank of Vietnam's Nghe An branch, as of June 30, 2020, the total outstanding loans of credit institutions in the province were estimated at VND 209,729 billion, an increase of VND 1,043 billion (0.5%) compared to the beginning of the year.
Excluding the Development Bank, outstanding loans are estimated at VND 191,940.8 billion, an increase of VND 1,337 billion, or 0.7%, of which: Short-term loans are VND 97,009 billion, accounting for 50.5%; medium and long-term loans are VND 94,931 billion, accounting for 49.5%.
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| Cashiering activities at a commercial bank in Vinh City. Photo by Thu Huyen. |
Outstanding balances for certain credit programs:
- Outstanding loans for agricultural and rural development are estimated at nearly 86,800 billion VND, an increase of 0.2% compared to the beginning of the year.
- Outstanding loans for housing support under Government Resolution 02/NQ-CP dated January 7, 2013 are estimated at VND 265 billion. Outstanding preferential loans for implementing social housing policies under Decree 100/ND-CP and Circular 25/2015/TT-NHNN are estimated at VND 39.3 billion.
- Outstanding loans for shipbuilding under Decree 67/2014/ND-CP are estimated at 695 billion VND.
- Outstanding loans for the development of high-tech and clean agriculture under Resolution 30/NQ-CP are estimated at VND 19,994 billion, accounting for 9.5% of the total outstanding loans in the entire area.
- Outstanding loans for large-scale provincial projects (investment capital of 100 billion VND or more) that banks are currently financing (as of May 31, 2020): Currently, there are 56 large-scale provincial projects being financed by 21 banks in the area, with a total committed financing amount of over 28,898 billion VND; 25,208 billion VND has been disbursed, leaving an outstanding balance of 15,184 billion VND.
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| Graphics: Huu Quan |
As of June 30, 2020, the total mobilized capital in Nghe An province was estimated at VND 149,344 billion, an increase of VND 9,115 billion (6.5%) compared to the beginning of the year, and an increase of VND 563 billion (0.38%) compared to the previous month.
According to a report from the State Bank of Vietnam's Nghe An branch, as of May 28th, implementing credit support measures for customers affected by the Covid-19 pandemic, banks in the province have waived or reduced interest payments and interest rates for 25,037 customers, with outstanding loans totaling VND 32,622 billion. They have also restructured repayment terms and maintained the same loan classification for 5,457 customers with outstanding loans of VND 1,592 billion. New loan disbursements have been made to 13,745 customers.(Cumulative figures as of January 23, 2020)with new disbursement sales of VND 22,053.5 billion.
