Credit growth in October was the highest since the beginning of the year.

Total banking credit in Hai Duong increased by 8.1% compared to the end of 2023, the highest growth rate since the beginning of the year.

Specifically, outstanding credit in the entire banking sector in October 2024 reached nearly VND 144,850 billion, an increase of 8.1% compared to the end of 2023. This is the highest growth rate since the beginning of the year. In addition, total outstanding credit at the end of October 2024 also recorded a growth rate of 18.3% compared to the same period in 2023, higher than the national average announced by the State Bank of Vietnam (16.65%).

Credit outstanding for agriculture and rural development continued to account for a high proportion, reaching VND 53,084 billion, representing 36.6% of total outstanding loans, a decrease of 0.4% compared to the end of 2023, but an increase of 0.5% compared to the end of September.

Outstanding loans for small and medium-sized enterprises reached VND 25,548 billion, an increase of 4.7% compared to the end of 2023. Outstanding loans for exports totaled VND 7,673 billion, an increase of 24.2% compared to the end of 2023. Outstanding loans for supporting industries totaled VND 8,327 billion, an increase of 47.3% compared to the end of 2023.

In October 2024, despite impressive growth in outstanding credit, the difference between mobilized funds and loans at banks throughout the province remained at over 64,200 billion VND, nearly 6,000 billion VND higher than the same period in 2023.

Interest rates for Vietnamese Dong loans applied by banks in the province are commonly at 4.5-7.5% per year for short-term loans and 7.5-9.5% per year for medium and long-term loans. Overall, the basic lending interest rate decreased by 0.76% per year compared to the end of 2023.

Regarding credit growth management, according to the Governor of the State Bank of Vietnam, in 2024 the State Bank of Vietnam aims for a credit growth rate of approximately 15%, with adjustments made to suit actual developments and circumstances. In 2022, credit increased by 14.18%; in 2023, it increased by 13.78%; and by October 31, 2024, credit growth across the entire banking sector nationwide reached 10.08% compared to the end of 2023, an increase of 16.65% compared to the same period in 2023.

HA KIEN

Source: https://baohaiduong.vn/ngan-hang-nha-nuoc-chi-nhanh-tinh-hai-duong-tin-dung-thang-10-tang-truong-cao-nhat-tu-dau-nam-397734.html