Banks required to report credit and capital mobilization growth plans

The State Bank of Vietnam (SBV) issued on February 18 Document No. 1040/NHNN-CSTT requiring credit institutions to submit their plans of capital resource mobilization and credit growth for the economy in 2009.

Under the Document, commercial banks are required to provide the SBV with information about their credit balance and percentage increase against December 31, 2008 in their targets of capital mobilization and credit growth for the economy.

Specifically, the credit target for the economy should be broken down into currency types; maturities, and such sectors as agriculture and forestry, aquaculture, industry, construction; small and medium enterprises (SMEs), stock investment and trading, real estate investment and trading, consumption and others. Capital mobilization should be broken down into currency types, maturities, and deposit structure.

All the reports should be sent to the SBV Monetary Policy Department by March 4, 2009.

For more information, credit institutions could contact telephone No.04 3825 9158 , 047 3824 6955 or fax to No. 04 3824 0132; and Email: phongcstd@sbv.gov.vn

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