Nghe An province achieved credit growth exceeding 7%.
According to data from the State Bank of Vietnam's Nghe An branch, as of October 31st, credit growth in the area reached over 7%, higher than the same period in 2023.
In the first 10 months of the year, Nghe An's banking sector continued to lead the North Central region in terms of capital mobilization; effectively implementing monetary, credit, and banking activities in the area. In the third quarter of 2024, bank credit growth showed signs of recovery, reflecting an improvement in the economy's credit demand.
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According to a report by the State Bank of Vietnam's Nghe An branch, as of October 31, 2024, mobilized capital in the province (excluding the Development Bank) was estimated at VND 256,740 billion, an increase of VND 24,396 billion compared to the beginning of the year, or 10.5%; the same period in 2023 was 10.8%.
As of October 31, 2024, the total outstanding loans of credit institutions in the area are estimated at VND 317,011 billion, an increase of VND 21,232 billion compared to the beginning of the year, equivalent to 7.18% (the same period in 2023 was 5.7%).
By maturity: short-term loans reached VND 187,854 billion (accounting for 61.6% of total outstanding loans), and medium- and long-term loans reached VND 117,332 billion (accounting for 38.4% of total outstanding loans).
Outstanding loans under policy programs through the Social Policy Bank amounted to VND 13,407 billion, accounting for 4.3% of the total outstanding loans in the area.
Outstanding balances of some credit programs as of October 31, 2024
+ Loans to the agricultural and rural sectors and rural areas across the entire region are estimated at VND 142,027 billion, accounting for 45% of the total outstanding loans in the region.
+ Loans for the development of high-tech and clean agriculture, in accordance with Resolution 30/NQ-CP, are estimated at VND 20,501 billion, accounting for 6.5% of the total outstanding loans in the entire area.
+ Export loans are estimated at VND 2,650 billion, a decrease of 7.3% compared to the beginning of the year.
+ Loans supporting housing under Government Resolution 02/NQ-CP dated January 7, 2013 are estimated at 71 billion VND, a decrease of 34.8% compared to the beginning of the year.
+ Loans for shipbuilding under Decree 67/2014/ND-CP are estimated at 79 billion VND, a decrease of 37.4% compared to the beginning of the year.
According to the leaders of the State Bank of Vietnam's Nghe An branch, credit is projected to increase more strongly in the last months of the year. The banking sector will continue to implement solutions to support businesses and people affected by natural disasters and epidemics. They will deploy credit packages to adequately and promptly meet capital needs for production and business, serving the legitimate needs of people and businesses, striving for credit growth while controlling credit quality.
