HCM City disburses over VND306.4 trillion through bank-enterprise connection

Accordingly, 97,138 customers who are enterprises, business households and cooperatives have received preferential loans through this program.

Photo for illustration. (Source: qdnd.vn)

On August 14, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam’s branch in HCM City said that as of the end of July 2024, the total outstanding credit balance in the city reached VND3.68 quadrillion, a slight decrease of 0.09 from the previous month but still up 11.47% compared to the same period last year.

Mr. Nguyen Duc Lenh also said that the socio-economic situation and production and business activities of enterprises, especially those in sectors and fields that are the driving force for economic growth, continue to maintain a positive growth trend and is an important environmental factor to maintain and promote credit growth.

According to the Deputy Director, credit in July 2024 in the southern city decreased slightly, mainly due to declines in short-term loans and foreign currency loans. Meanwhile, credit in Vietnam dong in the seven months soared by 13.52% compared to the same period last year.

Low interest rates, along with solutions to support businesses and good implementation of credit programs for priority sectors and fields, are the main factors affecting VND credit activities in the city in the seven months.

Regarding business support activities, by the end of July 2024, the city banking industry organized 26 conferences to connect banks and businesses and disbursed credit packages worth more than VND306.4 trillion, equivalent to 60% of the support package.

The move not only removes difficulties for businesses, but also offers solutions to promote credit growth in HCM City as a key task of the city’s banking industry in the last months of the year./.