Deposits and loans are rising

According to PPC, total deposits of credit institutions (CIs) in the province in 2016 reached VND142,854 billion, up 23.618% YTD. Among total deposits of CIs, deposits in VND continued to grow and accounted for a high proportion compared with 2015; while deposits of economic organizations increased 24.7%; residential deposits increased 24.1%; the rest is valuable papers. Meanwhile, total outstanding loans by the end of Dec 2016 in the province is estimated at VND117,641 billion, up 23.6% YTD.

The statistics also showed that short-term loans in VND for 5 prioritized sectors (agriculture, manufacturing exports, SMEs, auxiliary industry, high-tech application) in 2016 have been maintained by CIs; lending structure supporting SMEs accounted for nearly 50% proportion of total loans for these 5 sectors.

In the remaining months of 2016, the province focused on solutions to boost production and business activities, remove difficulties for enterprises, and improve the investment environment to attract more domestic and foreign resources; encourage entrepreneurship of its people. Additionally, the province will enhance the State management and improve operational efficiency of banks, people's credit funds, funds for SMEs and non-budgetary funds.

Reported by Thanh Hong – Translated by Ngoc Huynh

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