Tag: Credit balance

According to the State Bank of Vietnam (SBV), as of May 31, outstanding credit for real estate stood at VND2.33 quadrillion ($99 billion), an increase of 12.31 per cent compared to the end of last year. Most credit went to owner-occupiers.

Ho Chi Minh City’s credit balance rose 9.3 per cent in the first half of 2022 compared to the end of 2021, which was key in helping the city’s gross regional domestic product (GRDP) increase 3.82 per cent in the period, after recording negative growth at the end of 2021. The trade and service sector posted the highest figure, of 4.83 per cent.

The credit balance in February was down by VND96 trillion ($4.1 billion) while cash outflows seen before the Lunar New Year (Tet) returned, meaning less stress on liquidity in the banking system. This is most evident in the decline in interbank interest rates.