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Bad debt drops to 2.58% (15/8)
15/08/2016 - 20 Lượt xem
The SBV said in a report released on August 11 that statistics of credit institutions and Vietnam Asset Management Company (VAMC) showed that they dealt with VND59.71 trillion (US$2.67 billion) of bad debt in the first half of this year, down 14.55% against the year-earlier period.
Of the total, credit institutions sold VND8.88 trillion of bad debt to VAMC, borrowers paid back VND30.98 trillion and banks set aside VND7.24 trillion for risk provisions.
The central bank said credit has also grown well over the past months. By July 29, lending had grown 8.54% compared to the end of last year.
Meanwhile, the money supply had increased 9.45% and capital mobilization had climbed 9.94%.
By the end of last month, deposits in the Vietnam dong had jumped 12.28% while foreign currency deposits had dipped 6.25% versus end-2015.
The SBV said in its report that liquidity at credit institutions had remained ample and interest rates on the interbank market had inched down compared to the end of last year.
The central bank added the foreign exchange market had been stable in the year to date. The average daily interbank exchange rate between the dong and the U.S. dollar has hovered around VND22,300 a dollar.
The SBV reiterated that the hoarding of U.S. dollars has eased and that the central bank had acquired big volumes of foreign currencies, thus shoring up the nation’s foreign exchange reserves.
Source: Saigontimes
