Credit increased by 8.38%, which sector has the largest outstanding debt?

ANTD.VN - Besides priority sectors, real estate is the sector that accounts for a large portion of the total outstanding loans in the banking system.

According to information from the Department of Credit for Economic Sectors (State Bank of Vietnam), as of November 23, 2023, outstanding loans in the entire banking system had increased by 8.38% compared to the end of December 2022, reaching 56% of the target set by the State Bank of Vietnam for credit institutions.

Accordingly, the remaining room for credit institutions to expand credit growth from now until the end of the year is very large, approximately 6.2%, equivalent to about 735,000 billion VND that credit institutions still have available to provide credit to the economy.

With excess liquidity in the credit institution system and ample room for credit growth, credit institutions are in a favorable position to provide loan capital to the economy.

According to the State Bank of Vietnam, credit growth in the recent period has not been high mainly due to the fact that the economy is still facing many difficulties, the recovery process is still slow, so credit demand has decreased and the capital absorption capacity of businesses and the economy is still weak.

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Credit growth remains low by the end of the year.

According to the State Bank of Vietnam, in terms of total outstanding loans in the system from the beginning of the year to date, credit to priority sectors – especially agricultural and rural credit – and real estate credit are the two sectors that account for the largest proportion in the current credit structure.

Specifically, among priority sectors, credit to rural areas accounts for the largest proportion, reaching outstanding loans of over 3.1 million billion VND, representing 24.52% of the total outstanding loans in the entire economy, an increase of 6.33% compared to the end of 2022.

Credit extended to small and medium-sized enterprises reached over 2.34 trillion VND, accounting for 18.34%, an increase of 7.46% compared to the end of 2022.

Credit extended to the export sector reached approximately VND 322,000 billion, accounting for 2.53%, an increase of 11.61% compared to the end of 2022.

Credit extended to the supporting industries sector reached over 350,000 billion VND, accounting for 2.75%, an increase of 18.54% compared to the end of 2022.

Credit extended to the high-tech business sector amounted to approximately VND 45.4 trillion, accounting for 0.36%, an increase of nearly 18% compared to the end of 2022.

Meanwhile, for sectors with potential risks: Credit for BOT and BT transportation projects amounted to VND 92,300 billion, an increase of 0.16% compared to the end of 2022, accounting for 0.72% of the total outstanding credit granted to the economy.

Credit for investment and securities trading amounted to over 81,000 billion VND, accounting for 0.64% of the total outstanding loans in the economy, an increase of nearly 93% compared to the end of 2022.

Credit to the real estate sector alone reached over 2.7 trillion VND, an increase of 6.04% compared to the end of 2022, accounting for 21.46% of the total outstanding loans in the economy.

Loans for living expenses reached over 2.7 million billion VND, an increase of 1.53% compared to the end of 2022, accounting for 21.2% of the total outstanding loans in the economy.

Most recently, on November 29th, the State Bank of Vietnam readjusted the credit growth limits for banks.

Previously, in July 2023, the regulatory authority allocated credit limits to the entire credit institution system with a total allocation growth of 14.5% (close to the target set for 2023 of 14-15%).

However, as of November 23rd, credit growth across the entire system had only reached 8.38%, and the growth was uneven, with some credit institutions experiencing relatively high growth, while others experienced low growth, or even negative growth. Therefore, to ensure timely and flexible management and meet the requirements for further boosting credit growth to serve the capital needs of the economic recovery process, the State Bank of Vietnam (SBV) has reallocated credit growth targets across the system, transferring funds from credit institutions that have not fully utilized their targets to those that need to continue expanding credit growth.

Accordingly, banks that achieve a credit growth rate of 80% or more of the credit target previously announced by the State Bank of Vietnam in 2023 are allowed to independently increase their credit limits.

This additional credit level is determined by the bank itself based on its 2022 rating score, with priority given to credit institutions that focus lending on priority sectors and to banks that have reduced lending interest rates to low levels recently.

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