Northwestern region reports 14.45% credit growth

VGP - Total outstanding loans of credit institutions in the northwestern region were estimated at more than VND147.25 trillion (US$7.01 billion) by December 31, representing a year-on-year increase of 14.45% and 3.72% of the country’s total lending this year, said the State Bank of Viet Nam (SVB).

January 01, 2015 1:49 PM GMT+7

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By the date, bank branches in the 12 regional provinces mobilized nearly VND110.96 trillion (US$5.28 billion), rising by 19.49% from a year earlier and accounting for 2.45% of the entire economy’s figure.

SBV Deputy Governor Dao Minh Tu said the region’s non-performing debt this year topped VND2.12 trillion (over US$100.9 million), accounting for 1.44% of total credit.

At a press conference on December 31, the SBV and the People’s Committee of Son La province said a conference to attract investment and aid to the northwestern region will be held on January 31 next year. At a similar event in 2014, commercial banks committed VND333 billion (more than US$15.85 million) for the provinces’ social welfare programs.-VNA