VietNamNet Bridge – The State Bank of Vietnam has been making
every effort to push up lending. However, commercial banks believe that the
credit growth rate would be no more than five percent by the end of the year.
The Governor of the State Bank on
November 9 released an instruction on the monetary policies to be applied in
the last months of 2012 and early 2013, urging commercial banks to apply
“effective measures to expand credit to foster the economic development at a
reasonable level.”
Le Quang Trung, Deputy General
Director of VIB Bank said on Dau tu chung khoan that in fact, commercial banks
now have profuse capital and they are ready to disburse money, not because of
the central bank’s instruction.
VIB has been providing the credit
packages with the preferential interest rates of 9.9 percent per annum for the
real estate sector and 11.5 percent per annum for production and business.
Nguyen Hung, General Director of
Tien Phong Bank, also said the bank has been doing everything it can to push up
lending. It has checked all the loans and its clients, offered interest rate
reductions, classified clients and disbursed more money to the clients, who
have temporary difficulties but still can resume their business.
Though the measures have brought
some initial results, Hung said the capital demand in the last months of the
year would not increase sharply, because enterprises tend to be more cautious
when drawing up their year-end production plan. Meanwhile, banks dare not lend
money to the businesses which incur big debts and have big inventories.
Another banker also said that the
disbursement of the bank’s credit package worth trillions of dong launched in
September has been going very slowly.
“The problem here is that
businesses cannot meet the requirements to access loans. They cannot borrow
money not because banks don’t want to lend,” he said.
Also according to Trung, the
ratio of outstanding loans on the mobilized capital is now between 75-85
percent (the figures vary for different banks), which means the capital
redundancy of 5-15 trillion dong.
In its report about the economic
situation in the last months of the year, Vietcombank Securities Company also
said the loans demand would see sharp increase in the last months of the year,
predicting the five percent credit growth rate for the whole year 2012.
Analysts say Vietcombank
Securities has every reason to keep pessimistic about the credit growth. The
commercial banks which are holding the biggest market shares all have
reportedly unsatisfactory credit growth in the first nine months of the year.
Vietcombank, for example,
reported the credit growth rate of 8.6 percent, Military Bank 10.7 percent,
Sacombank 8.3 percent, Vietinbank 2.63 percent, Eximbank 1-2 percent.
Meanwhile, Techcombank and ACB reported the minus growth rates of 3.35 percent
and 0.01 percent, respectively.
If the five percent credit growth
rate comes true, this would be far below the targeted level of 15-17 percent
set up by the government earlier this year, and the adjusted target of 8-9
percent set up in mid-year.
Governor of the State Bank of
Vietnam Nguyen Van Binh has affirmed at the ongoing National Assembly’s session
that the credit growth rate could be 10 percent this year, if counting on the
issued government bonds.
In 2011, the credit growth rate
was 14 percent, but Vietnam could not issue government bonds.
Compiled by C. V
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