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Businesses less interested in preferential loans
From April 29 to May 7, commercial banks disbursed VND3,167bil worth of short-term loans under the interest rate subsidy programme, a modest increase of 1.17% over the previous week. The disbursement for preferential long-term loans is also increasing slowly.
By May 7, the whole banking system had disbursed VND272tril worth of short-term loans under the interest rate subsidy programme.
Of this amount, the outstanding loans loaned by state-owned banks and the central people’s fund had reached VND199tril, while the amount disbursed by joint-stock banks had reached VND60,300bil. Joint-venture banks, foreign bank branches and 100% foreign bank entities had disbursed VND11,840bil.
The medium- and long-term outstanding loans by the end of the last week had reached VND4,730bil only. Of this, state-owned banks and the central people’s fund had disbursed VND3,960bil, while joint-stock banks had loaned VND570bil.
The first demand stimulus package with the 4% interest rate subsidy programme, applied for short-term loans, was kicked off in early February. With VND17tril in government support, it is expected that the outstanding loans may reach VND600tril by December 31 at maximum. In the first month of the programe’s implementation, busineses borrowed nearly VND100tril. In the next weeks, the average disbursement rate increased by 8% a week.
The second demand stimulus package aims to support medium- and long-term production and business plans with the same 4% interest rate subsidisation. However, the second package’s implementation has been going slowly, partially because the demand from businesses is not really big. This has been explained by the fact that banks lack medium- and long-term capital to lend.
VietNamNet, VNE
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