According to statistics from the Hanoi Statistics Office, by the end of August 2024, the total credit outstanding of credit institutions (CIs) in Hanoi is estimated to reach VND 4,103 thousand billion, up 1.15% from the previous month and up 13.44% from the end of 2023. Of which, short-term outstanding loans reached VND 1,790 thousand billion, up 1.73% and 18.96%, respectively; medium and long-term outstanding loans reached VND 2,313 thousand billion, up 0.71% and 9.51%, respectively.
In terms of loan structure, loans under the connected bank-enterprise program accounted for 13.9% of the total outstanding loans to the economy; loans to small and medium-sized enterprises accounted for 18.9%; agriculture, rural programs accounted for 8.93%; export loans accounted for 5.14%; loans to supporting industries accounted for 2.32%; loans to high-tech enterprises accounted for 0.36%; and social policy credit accounted for 0.43%.
In terms of capital mobilization, by the end of August 2024, the total capital mobilized by CIs in Hanoi is estimated to reach VND 5,801 thousand billion, up 1.27% from the previous month and up 8.73% from the end of 2023.
As of the end of August 2024, the bad debt ratio of CIs in the capital city accounted for 1.69% of total outstanding loans. CIs focus on credit growth, offering many preferential credit packages and applying flexible interest rate policies. The liquidity of CIs in the area is assured.
Meanwhile, according to statistics from the Ho Chi Minh City Statistics Office, by the end of August 2024, credit outstanding in Ho Chi Minh City is estimated to increase by 4.5% compared to the end of 2023 and by 11.4% over the same period. This figure is much lower than the country’s overall credit growth rate of 6.63% (as of August 26). Credit growth in Ho Chi Minh City has tended to slow down recently: 4% in June, 3.9% in July, and 4.5% in August 2024 compared to the end of 2023.
The Ho Chi Minh City Statistics Office assesses that the capital absorption capacity has not improved much. The target of a 15% credit growth for the whole year will face many challenges if there are no solutions to remove obstacles.
