Ho Chi Minh City: Four-month credit rises by 1.31%

Friday, 17/05/2024 10:00
After negative growth in January 2024, credit in Ho Chi Minh (HCM) City grew again and maintained positive growth rate in February (0.01%); March (1.9%) and April (0.35%). In the first four months of the year, credit in the southern city rose by 1.31% compared to the end of 2023.
Four-month credit in HCM City rises by 1.31%. (Photo: sggp.org.vn)

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam’s branch in HCM City, said that credit in April 2024 increased by 0.35% from the previous month, by 1.31% compared to the end of 2023 and by 9.33% over the same period last year. Medium and long-term credit grew more than short-term credit (1.96% compared to 0.6%).

According to Mr. Lenh, credit in the city maintains a good growth trend thanks to positive changes in some production and business sectors. In particular, loans to businesses in industrial parks and export processing zones increased by 3.8%, with outstanding loans of more than 222.19 trillion VND for 3,634 borrowers, higher than the average growth rate in the locality.

Loans to support businesses through the banking connection program (including disbursement of preferential credit packages and direct signing at the conference) reached 184.13 trillion VND for 43,171 customers who are businesses, business households and cooperatives.

Loans to stabilize the market also reached 3.631 trillion VND for stabilizing businesses and supply chain businesses, making an important contribution to market stabilization, thanks to stabilizing prices of essential goods and contributing to improving the effectiveness of monetary and credit policies in the locality.

In addition, credit institutions in the city have restructured debt and maintained the same debt group for 40,568 customers, with the total restructured debt of 46.79 trillion VND./.