Vietnam Total Outstanding Loans Set to Grow 25% to VND2,140 Trillion in 2010
Total outstanding loans of Vietnam’s economy are set to expand 25% to VND2,140 trillion (US$115.8 billion) in 2010, according to a vice CEO of ABBANK.
Pham Quoc Thanh has released the figure in the context many banks in Vietnam are waiting to resume lending from the very start of the financial year of 2010.
Credit growth for 2009 has expanded 37.73% to VND1,712 trillion (US$92.645 billion), exceeding by 7.73% from the set target of 30% according to the statistics of the State Bank of Vietnam.
Ho Huu Hanh, director of the SBV’s Ho Chi Minh City-based branch proposed that local banks should prioritize their loans for profitable and healthy companies.
Next year Vietnam targets gross domestic product (GDP) growth of 6.5% and curb inflation below 7%, state media reported. (Saigon Marketing)
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