Northwestern region reports 14.45% credit growth

13:49 | 01/01/2015

VGP – Total outstanding loans of credit institutions in the northwestern region were estimated at more than VND147.25 trillion (US$7.01 billion) by December 31, representing a year-on-year increase of 14.45% and 3.72% of the country’s total lending this year, said the State Bank of Viet Nam (SVB).

Illustration photo

By the date, bank branches in the 12 regional provinces mobilized nearly VND110.96 trillion (US$5.28 billion), rising by 19.49% from a year earlier and accounting for 2.45% of the entire economy’s figure.

SBV Deputy Governor Dao Minh Tu said the region’s non-performing debt this year topped VND2.12 trillion (over US$100.9 million), accounting for 1.44% of total credit.

At a press conference on December 31, the SBV and the People’s Committee of Son La province said a conference to attract investment and aid to the northwestern region will be held on January 31 next year. At a similar event in 2014, commercial banks committed VND333 billion (more than US$15.85 million) for the provinces’ social welfare programs.-VNA