Vietnam Banks See 2008 Bad Debt at 3.5 per cent of Outstanding Loans
The State Bank of Vietnam (SBV), the country’s central bank, has estimated total bad debts of the banking system at VND43.5 trillion by the end of 2008, accounting for 3.5 per cent of total outstanding loans.
The SBV also affirmed that such bad debt ratio is still under control.
Last year, Vietnam saw credit growth at 21 per cent to 22 per cent this year thanks to stabilization measures adopted by the government to cool down red-hot growth and curb inflation.
The credit growth is driven by loans for private sector up 35 per cent-37 per cent, credits for exporters up 34 per cent to 36 per cent, loans for agricultural sector up more than 30 per cent and loans for state-owned enterprises up 12 per cent to 15 per cent.
The total payments of the entire economy have soared 16 per cent to 17 per cent, the State Bank of Vietnam, the country’s central bank, told an overview conference. (Vietnam Economic Times)
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