SBV orders strict control on real estate credit

SBV orders strict control on real estate credit

The State Bank of Vietnam (SBV) has recently requested credit institutions and foreign bank branches to strictly control the growth rate of credit outstanding balance and the credit quality of sectors with potential risks or heavily affected by the Covid-19 pandemic, especially the real estate credit.
Credit estimated to reach 2 percent in first three months

Credit estimated to reach 2 percent in first three months

Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam (SBV) branch in Ho Chi Minh City, said that by the end of the first quarter of this year, the growth of credit outstanding balance in the city surged by about 1.8 percent compared to the beginning of this year.
Credit growth in 2020 not as high as expected

Credit growth in 2020 not as high as expected

The State Bank of Vietnam (SBV) said that by December 31, last year, the credit outstanding balance of the economy nearly touched VND9.2 quadrillion, an increase of about 12.13 percent compared to 2019, at a meeting to deploy the tasks of the banking sector in 2021 held in Ho Chi Minh City on January 7.
The automotive market offers many promotions to attract customers. (Photo: SGGP)

Credit accelerates prior to Lunar New Year

Banks have launched several preferential credit packages to stimulate demand for business capital and spending to take advantage of the peak business and shopping season at the end of the lunar year.

 

Mizuki Park real estate project in Binh Chanh District, HCMC. (Photo: SGGP)

Money still pours into real estate

Although the capital source for the real estate market has become tighter and tighter, the latest report by the State Bank of Vietnam (SBV) shows that the total credit outstanding balance of the whole economy is VND8.3 quadrillion; of which, credit in the real estate field is about VND1.6 quadrillion, accounting for nearly 20 percent of the total credit outstanding balance of the whole economy.
Credit growth rises by nearly 1 percent in first two months

Credit growth rises by nearly 1 percent in first two months

Evaluating the banking activities in February this year, the People’s Committee of Ho Chi Minh City said that the city’s banking industry continued to operate stably and maintain a positive growth rate, contributing to meeting the capital demand for the production and trade activities and to the economic growth of the city.