Hanoi Statistical Office has just released a report on the socio-economic situation in the first quarter, including the bank credit indicator.
According to the Hanoi Bureau of Statistics, credit institutions in the area are continuing to step up the implementation of many support measures for customers in difficulties due to the impact of the Covid-19 epidemic; restructuring the repayment term, exemption or reduction of loan interest, temporarily maintaining the debt group for loans in accordance with regulations of the State Bank and considering lending to customers to maintain production and business activities.
Despite trying to boost credit, the data at the end of the first quarter showed that the total outstanding credit in the province was only 2.22 million billion dong. That is only 0.1% increase over the previous month and 0.7% compared to the end of 2020.
Meanwhile, the overall credit growth rate of the whole economy in the first quarter of the year reached 2.04%. Thus, credit growth in Hanoi is much slower than the overall credit growth rate of the whole country.
For details of credit structure in Hanoi, by term, short-term loan balance reached 892,000 billion VND, up 0.2% over the previous month and 1.3% higher than at the end of 2020; medium and long-term debt balance reached 1.33 million billion, equivalent to the previous month and increased by 0.3% compared to the end of 2020.
Loans under credit programs, by the end of March, loans to agriculture and rural areas reached VND 182,000 billion, accounting for 9.1% of total outstanding loans; exports reached VND 105,000 billion, accounting for 5.3%; support for small and medium enterprises reached VND 379,000 billion, accounting for 18.9%; real estate reached 419,000 billion VND, accounting for 20.9%; enterprises applying high technology reached VND 8,000 billion, accounting for 0.4%; social policy reached 9,000 billion VND, accounting for 0.5%; loans under the program to serve the needs of life reached nearly 388,000 billion VND, accounting for 19.3%; securities loans reached 7,000 billion, accounting for 0.4%.
Lending interest rates in VND of credit institutions are popular at 5.5- 8.0% / year for short term; 7.5-9.0% / year for medium and long term. The maximum short-term loan interest rate in VND for some priority sectors (agriculture, rural, export, small and medium enterprises, supporting industries, high-tech enterprises) is at a level. 4.5% / year.
Similarly, in terms of capital mobilization, the current total mobilized capital of credit institutions in the city is 3.8 million billion dong, up 0.1% MoM and 0.7 % compared to the end of 2020.
In which, VND deposits reached 3.1 million billion, an increase of 0.8% compared to the end of 2020; foreign currency deposits reached 409 billion, up 0.1%; savings deposits reached 1.44 million billion, up 0.5%; payment deposit reached 2 million billion, up 0.8%.
Deposit rates in VND are popular at 0.1-0.2% / year for demand deposits and terms less than 1 month; 3.1-3.8% / year for term deposits from 1 month to less than 6 months; 4.0-6.0% / year for term deposits from 6 months to less than 12 months; tenors from 12 months or more at 5.6- 6.8% / year. USD deposit interest rate of credit institutions is 0% / year for deposits of individuals and organizations.
Notably, in terms of credit quality in Hanoi, by the end of March, the bad debt ratio of credit institutions accounted for 1.9% of total outstanding debts and 2.1% of total loan balance, which is not changed compared to the end of the previous month.
Source: ndh.vn – Translated by fintel.vn