The State Bank of Vietnam’s Ho Chi Minh City branch has set targets of 13 percent credit growth rate, 12 percent deposit growth rate, under 3 percent bad debt ratio and better-than-last year business results in 2015, said the branch director To Duy Lam.
The banking industry will drastically implement the credit institution restructuring program and tackle bad debts, Lam was quoted by Saigon Giai phong newspaper as saying. They will focus on completing bank merger plans, he added.
Stating at the conference on January 26, permanent deputy Governor of the State Bank Nguyen Dong Tien instructed credit institutions to fulfill merger plans before June 2015 and keep close eyes on the progress to ensure that merged banks will stably operate in the second half of the same year.
In addition, Tien said that the banking system’s average bad debt has been under control.
In fact, many banks have a very low deep debt ratio–about 1 percent.
However, he said, the 3 percent bad debt ratio target will put a heavy pressure on banks. They thus should have financial preparations for risks and ensure effective credit growth.
The target of 13 percent credit growth is suitable but the State Bank’s HCM City branch should pay heed to credit quality, he added.
Last year HCM City banking system achieved positive results. Capital mobilisation went up 15 percent against the previous year to reach 1,344 trillion VND (62.97 billion USD ). Liability increased 12 percent to hit 1,068 trillion VND (50,036 million USD). The monetary market was stable and banking service quality was improved.
The Bank – Business Connectivity Programme has loaned 1,143 customers including businesses, traders and cooperatives with a total capital of 40,057 billion VND (1.88 billion USD).-VNA
- HCM City urged to reduce GHG emissions from buildings
- NPD: U.S. January Retail Video Game Sales Sink 13 Percent
- Pew study reveals that 13 percent of online adult Americans use Twitter
- Federal Reserve in the Spotlight on Eve of Rate Decision
- Sales of Apple’s iPhone declined in China despite overall worldwide growth
- Android to lead smartphone market through 2015, says IDC
- SPOTLIGHT ON SECURITY Cybersecurity Threats 2015: More Espionage, More Apple Malware
- Growth for Customer Loyalty Programs Slowing: Census
- Interview: Best Buy, Target Unfazed By GameStop Used Game Dominance
- Netflix Surprises Itself With Gangbusters Membership Growth
- Twitter Poised for Growth Spurt in Asia
- Yahoo Targets UK Broadband Market
- HPC Server Market Delivers Record Revenues and 8.4 percent Growth in 2011, IDC Reports
- New Online Bill Service Could Drive Up Postage Rates
- Swiss Biotech Roche Sees 5 Percent Rise in 9 Month Sales
- IBM Earnings Continue to Impress on Software, Services Growth
- Report: Video Games To Drive Entertainment Growth In Australia
- R&D Market Pulse: Third Fed Rate Hike Back on Track
- Chip Sales Post Strong Quarter, but Growth Seen Slowing
- US Internet Growth and Broadband Adoption Slow
HCM City targets 13 percent credit growth rate in 2015 have 439 words, post on en.vietnamplus.vn at January 27, 2015. This is cached page on Game Breaking News. If you want remove this page, please contact us.