Vietnam's credit growth in Q1 2012 at negative 1.96pct: SBV

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VietStock FI English - 70 month(s) ago 15 readings

As per the State Bank of Vietnam (SBV)'s report on banking operations in the first quarter of 2012, as of March 26, the credit for the economy was estimated to have fallen by 1.96 percent from the end of 2011.

This figure was lower than the negative figure of 2.13 percent released by the National Financial Supervision Committee (as of March 20) previously.

The proportion of total outstanding loans for non-prioritised sector decreased from 11.02 percent in the end of 2011 to 10.77 percent in the end of February 2012.

The total deposits of customers at credit institutions as of March 26, 2012 were estimated to increase 1.39 percent from the end of 2011. The total money supply was also estimated to increase 1.06 percent.

Earlier, as announced by the central bank, as of February 20, the total deposits of the entire banking system decreased 0.62 percent from the end of 2011 and the credit growth was negative 2.51 percent. The total money supply (M2) as of February 20 also declined 0.11 percent over the end of 2011.

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