Outstanding debt of Quang Nam commercial banking system is over 109.2 trillion VND

Customers borrowing capital from BIDV Quang Nam branch. Photo: Q.VIET

Mr. Pham Trong - Director of the State Bank of Vietnam, Quang Nam branch, said that in October, commercial banks in the area continued to promote the implementation of many preferential credit programs to support people and businesses in accessing loans to restore production and business.

Of the more than VND109.2 trillion in loans from credit institutions, short-term credit increased by 1.5% compared to the beginning of the month, up 4.74% compared to the beginning of the year (accounting for 62.45%). Medium and long-term credit increased by 1.4% compared to the beginning of the month (accounting for 37.55% of total outstanding loans).

Accounting for a high market share in total outstanding loans in the area are wholesale, retail, repair of automobiles, motorcycles, motorbikes and other motor vehicles (26.57%); processing and manufacturing industry (15.48%); accommodation and catering services (10.55%); agriculture , forestry and fisheries (10.53%); real estate business activities (10.29%); activities of hiring jobs in households, production of material products and services for household self-consumption (8.72%).

Credit officers discuss with customers about preferential loan programs. Photo: Q.VIET

Business households and individuals account for the highest proportion of outstanding debt at 58.98%; loans to limited liability companies account for 25.11%; loans to joint stock companies account for 10.4%; loans to other economic sectors account for a low proportion of the total outstanding debt of the local economy.

By the end of October, the total bad debt in the area was VND1.5 trillion (accounting for 1.37% of total outstanding debt, down 31.1% compared to the previous month). Bad debt remains high as businesses are still having difficulty paying their debts due. To date, the whole area has 5/33 units with a bad debt/outstanding debt ratio exceeding 3%.

Source: https://baoquangnam.vn/du-no-he-thong-ngan-hang-thuong-mai-quang-nam-hon-109-2-nghin-ty-dong-3143788.html