Bank credit poured heavily into production and business

700 dialogue conferences to resolve difficulties have brought loans worth a total of 1.2 million billion VND to the business community in the past few years.

At the recent Workshop “Improving the Efficiency of Bank-Business Connection 2017”, the State Bank leader said that in the first 9 months of 2017, credit in the entire system increased by 12.16% compared to the end of 2016, a fairly high growth rate compared to recent years.

Of which, the increase was about 17.6%, credit for the industrial sector increased by 17.75%, construction increased by 19%, credit for the trade and service sector increased by 18.1% compared to the end of 2016.

Illustration photo.

Outstanding loans to small and medium enterprises by the end of August accounted for 21% of outstanding loans in the economy, up 7.5% compared to December 31, 2016.Credit growth has actively supported GDP growth in the first nine months of the year to reach 6.41%, much higher than the 5.99% growth in the first nine months of 2016.

Previously, the newly announced Socio-Economic Report for the first 9 months of 2017 by the General Statistics Office also said that by September 20, the economy's credit growth reached 11.02% (in the same period last year, it increased by 10.46%).

According to the State Bank Credit Department, by the end of 2016, nearly 700 dialogue conferences between banks and authorities at all levels with enterprises were held nationwide. Nearly 75,000 enterprises had their difficulties resolved in many forms. The total amount of new loans committed by banks reached about 1.2 million billion VND with new lending interest rates commonly at 6-9% per year for short-term loans, 8-10% per year for medium and long-term loans. Banks extended debts, restructured repayment terms, increased credit limits, adjusted interest rates for old loans of customers, etc. with outstanding debt of about 88,000 billion VND.

In the first 9 months of 2017 alone, there were over 300 meetings and dialogues between banks and businesses. Thereby, banks committed to lending nearly 570,000 billion VND to new businesses, disbursing more than 550,000 billion VND to business customers. The amount of extended and restructured debt repayment terms was nearly 30,000 billion VND.

In addition, banks also apply other forms of support such as reducing lending interest rates for old loans for businesses with a total outstanding debt support of nearly 20,000 billion VND.

According to VNE