"By the end of June 2024, MB expects credit growth to reach 6-6.5%. With this year's growth target of about 15.5%, we need to reach about 8% in the last six months of the year. We expect to complete the target in the beginning or middle of the fourth quarter. When setting the credit growth target, what MB and banks expect most is the absorption capacity of the economy, " said Mr. Anh. According to Mr. Anh, in addition to the absorption capacity of the economy, banks now have comprehensive solutions, there is no single solution to ensure credit growth and market absorption. Up to now, banks have also reduced interest rates the deepest, perhaps in the past 10 years. Low prices will increase credit demand. Banks continue to cut costs to solve the price issue.
MB General Director Mr. Pham Nhu Anh. |
The second issue is about procedures, banks also continue to refine procedural processes. In particular, MB will rely on the MBBank App platform for individual customers and BIZ MBBank for corporate customers to continue lending and automatic approval. MB is now focusing on end-to-end processes, providing customers with automated experiences on MB's digital applications. This will help shorten the process and reduce human intervention in the decision-making process, thereby allowing customers to be more proactive. MB's ambition is to provide credit products to customers as quickly as possible with the best experience. The third is to develop products and processes according to new laws and new policies. At the same time, the real estate market is also showing signs of warming up depending on each segment, which will be a condition to stimulate credit demand in this field. MB's General Director also said that real estate has 4 areas including: Banks lending to people to buy houses; Industrial park real estate; Real estate of housing projects; Resort real estate. In the first 6 months of the year, all 4 sectors faced difficulties. For real estate loans to buy houses for living, due to economic difficulties and slow income of people, the demand for buying and converting houses in the first 6 months of the year was quite slow. Therefore, retail credit of banks was affected, including MB. Meanwhile, this is the sector that joint stock banks identified as the main lending focus. The real estate lending market is also very slow. Transactions are quite few. Prices are also high, with no signs of decreasing. Therefore, the demand for buying houses of people is quite low. The second difficult sector is resort real estate. After COVID-19, the resort real estate sector has not yet recovered. The number of tourists has partially recovered compared to before COVID-19, but the supply of resort real estate was too large during the Covid period and before Covid. Therefore, this sector is now also facing many difficulties. Industrial real estate can be said to be the bright spot of the first 6 months of the year.
MB expects credit growth to reach 6-6.5% in the first half of 2024 |
Basically, banks that promote lending activities in the industrial real estate sector have all grown. Industrial real estate projects have also basically had their legal problems resolved. The State Bank of Vietnam has also lowered the credit risk coefficient for industrial real estate from 200% to 160%, encouraging banks to lend. MB is also a bank that lends a lot in the industrial real estate sector. The shift of FDI into Vietnam has also had a positive impact on this sector. Real estate and housing projects have been talking a lot about legal issues for the past few years. Recently, the Government as well as Ministries, Departments and Branches have also focused on resolving this issue. However, it is still in the process. Recently, a part of it has been resolved. This process depends on new laws such as the land law, housing law... the laws that we are creating will take effect from August 1. "I think that after the law takes effect from August 1, a series of problems will be resolved. Hopefully, by the third quarter of 2024, the four real estate sectors and housing projects will be resolved, at that time it will create a general effect for the real estate market. Hopefully, people will start buying and changing houses and the purpose of banks will grow better," Mr. Pham Nhu Anh added. After the new laws take effect after August 1, this will have a huge impact on customers, so banks need to refine their processes and products according to the law and the circulars and decrees that will be issued to remove bottlenecks and difficulties. From there, they can serve and bring better experiences to customers.
Thuy Vinh
Source: https://baodautu.vn/ong-pham-nhu-anh-mb-se-hoan-thanh-tang-truong-tin-dung-155-vao-dau-quy-iv-d218064.html
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