2:56:58 PM | 11/12/2008
Hanoi-based banks and credit institutions had lent VND246 trillion (US$14.909 billion) to businesses by the end of Oct this year, up 32.2 per cent on year and they are boosting lending to realty projects, Nguyen Hong Ky, director of the State Bank of Vietnam's Hanoi branch said.
Outstanding loans for real estate project developers reached VND24.839 trillion (US$1.505 billion), accounting for 10 per cent of the total and non-performing loans for the realty sector represented 9 per cent of the total, Ky said.
Outstanding loans for small and medium companies hit VND75.452 trillion (US$4.572 billion), accounting for 30.6 per cent, Ky said.
Lending rates range 12 per cent to 15 per cent per annum, Ky added.
The State Bank of Vietnam, the country's central bank, has just issued a regulation to tighten security and safety of credit institutions and banks. (Pioneer Online, News)
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