Outstanding credit expected to rise by over 15% in 2018

Tuesday, 2018-10-09 13:08:47
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80% of CIs expected that their business performance would improve in the fourth quarter of 2018 (illustrative image)
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NDO - Vietnam's outstanding credit is anticipated to grow 4.52% in the fourth quarter of 2018 and increase by 15.22% in 2018 in the context of stable deposit and lending interest rates.

The information was revealed in the latest business trend survey conducted by the State Bank of Vietnam in September 2018.

Accordingly, most surveyed credit institutions (CIs) said that subjective and objective factors continued to improve in the third quarter of 2018 but the pace of improvement has slowed down compared to the previous quarter.

The survey results also showed that 80% of CIs expected that their business performance would improve in the fourth quarter of 2018 and 84.2% of CIs hoped for better business performance in 2018 compared to 2017.

CIs said that banking loans, payment and card services, and deposit services would be services attracting the largest number of customers which are estimated to rise 69.2%, 57.5% and 57% respectively compared to 2017.

According to the survey, the liquidity of the banking system by the end of the third quarter of 2018 continued to be "good" for both Vietnamese dong and foreign currencies. Almost all CIs forecasted that the liquidity would continue its positive trend in the fourth quarter and in the whole 2018.

CIs also anticipated that capital mobilisation for the whole credit system will expand by 5.83% in the fourth quarter of 2018 (higher than the expected level for the same period in 2017) and up 15.34% in 2018 (lower than the expected level in 2017).

In terms of employment, 56.8% of surveyed CIs said that they had recruited more workers in the third quarter of 2018 (higher than the rate of 46% recorded at the previous period); 26.6% of CIs said that there is a labour shortage for current job demands while 61.4% of CIs plan to recruit additional workers in the fourth quarter of 2018.