Commercial banks give businesses more than US$140 billion

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank Ho Chi Minh City branch, yesterday said that as of November 30, commercial banks in Ho Chi Minh City have given a total of VND 3,402,000 billion (US$140 billion).

A customer asks for a loan at a commercial bank

According to Mr. Lenh, there has been an increase of 1.3 percent in outstanding credit debts compared to the previous month and an increase of 6.04 percent against the same period last year.

Thus, statistically, January and February fell on Tet holidays (the Lunar New Year) so businesses didn’t ask for capital but in March 2023, credit increased by 1.37 percent. November 2023 is also one of the months in which credit has the highest growth rate of the year as November is the time when businesses accelerate for manufacturing goods for the New Year and the Tet holidays. Businesses participating in the market stabilization program asked for over VND13 trillion.

Other news