Banking system in Binh Duong grows steadily

Vo Dinh Phong, Director of State Bank of Vietnam (SBV) - Binh Duong Branch, said that during the first nine months of 2022, operations of 79 credit branches in the province continued to achieve good growth; deposits and loans gained a stable increase compared to beginning of 2022.

Namely, total deposit reached VND 275,361 billion, up 3.2% compared to beginning of the year and 5.55% year-on-year; total loan outstanding reached VND 279,256 billion, up 9.9% compared to beginning of the year and up 14.9% year-on-year. Bad debt was nearly VND1,699 billion, accounting for 0.61% of total loan, bad debt ratio was within the allowable limit.

Currently, credit institutions are implementing solutions to achieve the 2022 operation target by increasing capital mobilization to meet the lending need of customers at the end of the year, contributing to the achievement of local socio-economic development goals.

Reported by Thanh Hong - Translated by Ngoc Huynh