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

ANTD.VN - In addition to priority sectors, real estate is the sector that accounts for a large amount of outstanding debt in the total outstanding debt of the banking system.

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

Accordingly, the remaining room from now until the end of the year for the entire system for credit institutions to expand credit growth is very large, about 6.2%, equivalent to credit institutions having about 735,000 billion VND to provide credit to the economy.

With excess liquidity in the credit institution system and plenty of room for credit growth, credit institutions have favorable conditions to provide loans to the economy.

According to the State Bank of Vietnam, credit growth has not been high recently, mainly because 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 year-end

In the total outstanding debt of the system since the beginning of the year, the State Bank said that priority sector credit - especially agricultural and rural credit - and real estate credit are the two sectors with the largest proportion in the current credit structure.

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

Credit for small and medium enterprises reached over VND2.34 trillion, accounting for 18.34%, up 7.46% compared to the end of 202.

Credit for the export sector reached about VND 322,000 billion, accounting for 2.53%, up 11.61% compared to the end of 2022.

Credit for the supporting industry sector reached over VND 350,000 billion, accounting for 2.75%, up 18.54% compared to the end of 2022.

Credit for high-tech enterprises is about VND 45.4 trillion, accounting for 0.36%, up nearly 18% compared to the end of 2022.

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

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

Real estate credit alone reached over VND2.7 million billion, up 6.04% compared to the end of 2022, accounting for 21.46% of the total outstanding debt of the economy.

Loans for living needs reached over VND 2.7 million billion, up 1.53% compared to the end of 2022, accounting for 21.2% of the economy's outstanding debt.

Most recently, on November 29, the State Bank of Vietnam adjusted the credit growth limit for banks.

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

However, by November 23, the credit growth of the whole system had only reached 8.38% and the credit growth rate was uneven, some credit institutions had quite high growth, some credit institutions had low growth, even negative growth. Therefore, in order to flexibly manage and meet the requirements of continuing to promote credit growth to serve capital needs for the economic growth recovery process, the State Bank has adjusted the credit growth target in the whole system from credit institutions that have not fully used up their credit growth target to credit institutions that need to continue to expand credit growth.

Accordingly, banks with a credit growth rate in 2023 reaching 80% of the credit target previously announced by the State Bank will be allowed to proactively increase the limit.

This additional level is determined by the bank based on its 2022 ranking score, while giving priority to credit institutions focusing on credit in priority areas and giving priority to banks that have reduced lending interest rates to low levels in recent times.

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