Vietnam.vn - Nền tảng quảng bá Việt Nam

Demand for consumer loans, home purchases, and investments has dropped sharply in the last month of the year.

Công LuậnCông Luận12/01/2024


The end of the year is always the time when people's demand for consumer loans is at its highest. However, some statistics show that the demand for consumer loans in 2023 is showing signs of decline.

Specifically, according to data from the Vietnam Banks Association (VNBA), total outstanding loans in the first 3 quarters of 2023 increased by only 1.5% over the same period. The disbursement rate for consumer loans reached the lowest level in the past 5 years.

Demand for consumer loans to buy and invest in houses decreased sharply in the last month of the year, picture 1

Consumer loans recorded a decline in late 2023 (Photo TL)

Consumer lending increased by only 1.4% as of the end of October 2023, compared to a 19% growth in the same period last year. Most of the outstanding consumer loans were used for home purchases, repairs, and real estate transfers.

In Ho Chi Minh City, 65% of outstanding consumer loans by the end of October 2023 will be for home purchases, home repairs, and real estate transfers instead of regular personal consumption.

According to Vietcombank Securities (VCBS), home loans have been the main growth driver of the retail segment for many years but have slowed down in 2023. The reason is due to high anchor interest rates and the freezing of the real estate market. Outstanding home loans across the system at the end of the third quarter of 2023 even decreased by 1% compared to the beginning of the year.

In fact, retail lending activities used to be highly focused by banks. However, along with the development of this service segment, the amount of bad debt in consumer loans has increased from 2% in the period 2018 - 2022 to 3.7% in the second half of 2023.

VCBS data also shows that some banks have temporarily postponed their retail market expansion activities to adapt to the current situation. The proportion of retail credit to total outstanding loans has decreased from 47% at the end of 2022 to 46% at the end of the third quarter of 2023.



Source

Comment (0)

No data
No data
Lost in the wild world at the bird garden in Ninh Binh
Pu Luong terraced fields in the pouring water season are breathtakingly beautiful
Asphalt carpets 'sprint' on North-South highway through Gia Lai
PIECES of HUE - Pieces of Hue
Magical scene on the 'upside down bowl' tea hill in Phu Tho
3 islands in the Central region are likened to Maldives, attracting tourists in the summer
Watch the sparkling Quy Nhon coastal city of Gia Lai at night
Image of terraced fields in Phu Tho, gently sloping, bright and beautiful like mirrors before the planting season
Z121 Factory is ready for the International Fireworks Final Night
Famous travel magazine praises Son Doong cave as 'the most magnificent on the planet'

Heritage

Figure

Business

No videos available

News

Political System

Local

Product