Total outstanding credit reached over 34,700 billion VND.

(Hoa Binh Province) - According to the State Bank of Vietnam's provincial branch, as of May 31, 2023, the total capital of banks and credit institutions in the province reached over 42,000 billion VND, an increase of 5.6% compared to December 31, 2022. Of this, capital mobilized from economic organizations and individuals reached approximately 31,400 billion VND.

BIDV Bank's Hoa Binh branch effectively meets the loan needs of people and businesses in the area for production and business activities.

The total outstanding loans in the entire area as of May 31, 2023 reached over VND 34,700 billion, an increase of 2% compared to the end of 2022. Of this, short-term loans accounted for 44.3% of the total outstanding loans, while medium and long-term loans accounted for 55.7% of the total outstanding loans.

According to statistics from the State Bank of Vietnam's provincial branch, outstanding loans to priority sectors such as agriculture and rural areas reached nearly 17,100 billion VND, accounting for 49% of total outstanding loans; outstanding loans to cooperatives in the area reached over 30 billion VND; outstanding loans to support small and medium-sized enterprises reached 7,646 billion VND, accounting for 22% of total outstanding loans; export loans amounted to 40 billion VND; and loans for supporting industries totaled 22 billion VND.

Interest rates for demand deposits and time deposits with maturities of less than one month at credit institutions range from 0.1% to 0.5% per year. For deposits with maturities from one to less than six months, the rates are 4.6% to 5.5% per year for commercial banks and 3.5% to 5.6% per year for people's credit funds. Interest rates are determined by market supply and demand: for maturities of 6-12 months, the rates are 6% to 8.3% per year for commercial banks; 4% to 7.5% per year for people's credit funds; and for maturities over 12 months, the rates are 7.3% to 8.6% per year for commercial banks and 6.2% to 7.8% per year for people's credit funds.

HT

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Source: http://www.baohoabinh.com.vn/12/179081/Tong-du-no-tin-dung-dat-tren-34.700-ty-dong.htm