Credit in HCMC sees slight rise

Deputy Director of the State Bank of Vietnam – HCMC Branch Nguyen Duc Lenh informed of a credit increase in HCMC in April by 0.35 percent compared to March.

Making a transaction in a bank in HCMC (Photo: SGGP)

This mild growth has contributed to the general credit rise of 1.31 percent and 9.33 percent compared to the end of 2023 and this time last year respectively.

Deputy Director Nguyen Duc Lenh explained that this continuous increase in credit in HCMC is thanks to positive changes in a number of business or manufacturing sectors.

In particular, the loan proportion to businesses sited in industrial parks and export processing zones have experienced the greatest rise of 3.8 percent, with more than VND222.2 trillion (US$8.73 billion) distributed to over 3,600 clients. This is higher than the average growth rate in HCMC.

In addition, banks in the city have effectively disbursed money in such credit programs to support businesses as the credit package for enterprises in the forestry and fisheries sectors (at VND2.52 trillion - $99 million), the business – bank connection program (at VND184.14 trillion - $7.24 billion), the loans to stabilize the market (at VND3.63 trillion - $142.6 million).

Finally, credit organizations in HCMC have restructured their debt to maintain the same debt group for 40,568 clients with a total outstanding debt of nearly VND46.8 trillion ($1.84 billion).

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