(ĐN)- Banks and credit organisations operating in Dong Nai registered a combined debit balance of VND 29,658 billion by the end of March and reported over VND 20,700 billion in loan turnover in the first three months of the year, according to the Dong Nai branch of the State Bank of Vietnam.
(ĐN)- Banks and credit organisations operating in Dong Nai registered a combined debit balance of VND 29,658 billion by the end of March and reported over VND 20,700 billion in loan turnover in the first three months of the year, according to the Dong Nai branch of the State Bank of Vietnam. If classifying the loans in currencies, outstanding loans were around VND 24,000 billion in VND, and over $320 million in foreign currencies. Short-term loans were bigger than medium- and long-term loans, more than VND19,900 billion vs VND 9,742 billion. The rates of overdue and bad debts at local credit organisations rose to 9.54 per cent in the first three months of 2009, four times higher than the same period of last year. Especially, the total amount of bad debt reached over VND 1,000 billion, representing 3.39 per cent of total debit balance of local credit organisations, or six times higher than the same period of last year.
Local credit organisations have allocated a combined amount of more than VND 7,474 billion for lending to firms under the subsidised interest programme until April 17, 2009. Particularly, state-run commercial banks in the province provided subsidised-interest loans worth about VND5,400 billion for local firms, commercial joint stock banks, over VND 1,900 billion, joint venture banks, VND 118 billion and transaction offices of banks, over VND 58 billion.
Tran Quoc Tuan, Director of Dong Nai Branch of the State Bank of Vietnam said that more banks should participate in the subsidised interest loan programme because it will be an opportunity for banks not only to provide financial assistance for local firms but also widen their lending capacities.
Reported by K.Gioi
