HCM City Banks See Deposit up 42%, Ling up 74.9% On Year
Deposits of banks in Ho Chi Minh City reached VND531.86 trillion ($33.2 billion) as of early June, increasing 42% from one year ago and 9.2% from the ning of this year, said the city&rsquos General Statistics Office.
The joint stock commercial banks received deposits of VND282.9 trillion, accounting for 53.2% of total and increasing 84.4% on year, while the state-owned banks received VND155.6 billion, for 29.3%.
Deposits in foreign currencies made up 26% of total, representing an on-year increase of 36.9%.
Deposits in Vietnam dong grew 43.8% on year and accounted for 49.7% of total, of which savings and promissory notes totaled VND264.5 trillion, up 75.9% on year.
By early June, Ho Chi Minh City-based banks had total outstanding loans of VND493.6 trillion ($30.9 billion), up 74.9% on year and 21.5% from early 2008.
Joint stock commercial banks represented 50.7% of total loans, making a growth of 2.03 times against the same period last year.
Ling in foreign currencies reached VND143.2 trillion, or 29% of total, increasing 64.5% on year.
Ling in Vietnam dong surged 77.1% on year.
Middle and long term loans held 40.6% of outstanding loans, up 83.7% on year, while short term loans soared 69.3% on year.
Most of banks have adjusted their deposit interest rates to between 16% and 17% per annum and the ling rates to nearly 21%. (Securities Investment)
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