Nghe An: Credit growth rate decreases
(Baonghean.vn) - Since the beginning of the year, mobilized capital in Nghe An has increased quite well, by 12% compared to the beginning of the year (estimated at 120,303 billion VND), higher than the growth rate in the same period last year (11.8%). However, lending is difficult, credit growth has decreased compared to the same period.
As of September 24, 2018, the total outstanding debt of credit institutions in the area (excluding the Development Bank) is estimated at VND 167,432 billion, an increase of VND 16,842 billion compared to the beginning of the year, equal to 11.2%; lower than the growth rate of the same period last year (13.7%).
Lending to large projects of the province (investment capital from 100 billion VND or more) that banks are sponsoring: Currently, there are 48 large projects of the province being sponsored by 18 banks in the area, with a total committed funding amount of more than 29,844 billion VND; 24,183 billion VND has been disbursed, outstanding debt is 17,340 billion VND.
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| Rural agricultural loans account for 45% of total outstanding loans. In the photo: Tea production facility in Hung Son commune, Anh Son. Photo: Tung Chi |
Results of some credit programs in the agricultural and rural sector: By September 30, 2018, outstanding loans in the agricultural and rural sector under Decree 55 (excluding the Policy Bank and the Development Bank) were estimated at VND 71,905 billion, accounting for 45% of the total outstanding loans in the whole area, an increase of VND 39,033 billion, equal to 119% compared to 2013.
Outstanding loans for new rural areas as of June 30, 2018 were VND 69,028 billion, accounting for 96% of total outstanding loans for agricultural and rural development, an increase of VND 46,228 billion, equal to 202.7% compared to 2013.
In addition, outstanding loans under Decree 67 are estimated at VND802 billion with 104 ships, ranking 3rd nationwide (after Quang Tri and Binh Thuan).
As of August 31, 2018, the total bad debt in the whole area (excluding the Development Bank) was 1,534 billion VND, accounting for 0.93% of the total outstanding debt. Compared to the beginning of the year, bad debt increased by 428 billion VND, equivalent to an increase of 27.9%, concentrated in the following areas: healthcare 118.7 billion VND, accounting for 27.7%; construction and real estate business 103 billion VND, accounting for 24.1%; business and trade services 63.2 billion VND, accounting for 14.8%; agriculture, forestry and fishery (loans for fishing exploitation according to Decree 67) 30.88 billion VND, accounting for 7.2%.