Ninh Binh: 7.8% of credit growth in first eight months

During the meeting, leading officials of the Ninh Binh branch of the State Bank of Vietnam reviewed the operation  by the local banking sector in the period and worked out orientations as well as major tasks for the rest of 2014. It was reported at the meeting that by late August, 12 local credit institutions recorded a total capital mobilization of 22.37 trillion VND (1,055 billion USD), up by 10.3% compared to the beginning of this year; total lending topped 35.1 trillion VND (1,655 billion USD), a rise of 7,8%; bad debts accounted for 1,2% of the total lending. In particular, credit institutions have provided loans at low interest rates in line with the SBV's policy. At present, loans at the interest rates of over 13% account for only 3% of the total lending.As for the orientations and major tasks for the rest of 2014, the branch continues to guide local institutions to  improve capital mobilization, remove difficulties for enterprises and individuals, accelerate low-interest loans for the  five priority areas, namely those between banks and enterprises, for agriculture, rural development, aquaculture projects, tourism, services…Besides, efforts will be focused on restructuring the banking sector and handling bad debts. During the meeting, representatives of some local commercial banks asked relevant authorities to accelerate the granting of land use certificates and certificates of property ownership, cooperate with the banking sector to solve  collateral, ease difficulties for the real estate market, payment of debts in capital construction… Speaking at the meeting, Secretary Thanh, who is also an alternative member of the Central Committee of the Communist Party of Vietnam and head of the province's National Assembly Deputies' group, applauded efforts by the local bank sector over the past years, and highlighted the banking sector's contribution to socio-economic development of the province. She also asked the sector to continue to implementing National Assembly's Resolution, Party's policy, State bank of  Vietnam's policy on currency, credit, bank… and to take active role in handling difficulties for the economy, enterprises and individuals, especially in organizing regular meetings between the province's National Assembly Deputies' group and representative of the local banking sector to serve as a bridge connecting enterprises, individuals and the banking sector.

(Translated by Nguyen Thuy)