Credit merely rises 0.76 percent in Q3

The State Bank of Vietnam Ho Chi Minh City Branch, on September 29, said that by the end of September 2021, the outstanding balance in the city was estimated at nearly VND2.7 quadrillion, up 6.41 percent compared to the end of 2020.

However, credit in the third quarter of 2021 only increased by 0.76 percent compared to the second quarter of 2021, the lowest in three quarters.

However, credit in the city also has a positive point as credit institutions promote lending under priority credit programs. The program that connects banks and businesses alone has disbursed VND216.57 trillion by September out of a total of nearly VND312.05 trillion that banks committed to lending in 2021 to nearly 19,300 borrowers, with a maximum interest rate of not higher than 4.5 percent per annum for short-term loans in Vietnamese dong and around 9 percent per annum for medium and long-term loans.