2:29:17 PM | 20/2/2008
Hanoi's banking industry plans to attain a high growth rate of 40 per cent in both profits and outstanding loans this year, said Nguyen Hong Ky, State Bank manager for the Hanoi branch.
In 2007, the city-based banks reported remarkable profits and huge expansion of networks thanks to high economic growth with GDP surging ahead at 12.1 per cent, a record high for the past ten years.
Last year’s outstanding credit loans were VND183 trillion (US$11.4 billion), Ky said.
Hanoi has to date had 212 commercial banks and branches with 688 transaction offices and saving funds, while credit offices in the capital owned property worth VND563 trillion (US$35.2 billion) in 2007, a year-on-year increase of 44 per cent.
Many products and services of Hanoi’s commercial banks saw heavy development, with 870,000 individual accounts and 1,150 operational automatic teller machines (ATMs).
The 2007 year also marked the development of non-credit services in the city with total service fees of VND7.6 trillion (US$475 million), making up 15 per cent of the total income, with plans to rise by 15-20 per cent this year. (
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