(ĐN)- The real estate and consumption loans has dropped sharply in Dong Nai province so far due to unfavorable credit policies, according to Dong Nai branch of State Bank of Vietnam.

 

Real estate and consumption loans account for 9.3% of total  loans.

(ĐN)- The real estate and consumption loans has dropped sharply in Dong Nai province so far due to unfavorable credit policies, according to Dong Nai branch of State Bank of Vietnam.

These loans make up 9.3% of total lending in the province, of which real estate loans alone account for 5.1%.

Commercial banks prove to be the biggest real estate lenders. However, the high inflation, tightened monetary policies, frozen real estate market and low liquidity of banks over the past time have forced banks to limit lending to the sector.

Recently, many local commercial banks have begun to loosen credit policy for consumption and real estate projects.

Accordingly, consumers can get loans with interest rates of 11%-16% a year, while the interest rates for real estate loans have reduced by 3%-5%.

Reported by V.L