For the last 6 months of 2012: Banking sector stays focused on facilitating loans to enterprises
Binh Duong Branch of State Bank of Vietnam (BD SBV) just held a meeting to designate plans after 6 months of operation in 2012 to credit institutions and discussion of measures to remove obstacles for enterprises in terms of loan access.BD SBV reported that in the first 6 months of 2012, the market has been stable thanks to inflation control measures of the government with improved liquidation of the system. Totally VND 67,672 billion has been deposited to banks with loan balance of VND 49,052 billion; however, the credit loans layed low due to obstacles in production, business, finance of enterprises.Representatives of banks have contributed ideas to establishment of guarantee fund extracted from local development investment fund to support SMEs with guarantee procedures, capital sources, and more reasonable interest rates. The representatives agreed to adjust interest rates of older loans to 15% a year while restructuring the loans with reducation of interest rates and save-up of costs.Reported by Thanh Hong – Translated by Vi Bao
