HCM City banks loan $31.8 billion

Outstanding commercial bank loans in HCM City totalled VND620 trillion (US$31.8 billion) to the end of August, reports the State Bank of Viet Nam.

Property loans stood at VND92.86 trillion ($4.76 billion) or 15 per cent, and consumer loans at VND32.03 trillion ($1.64 billion) or 5.2 per cent.

The remaining 80 per cent was for production and business.

Deposits totalled VND683.5 trillion ($35.05 billion), up 13.3 per cent year-on- year; dong deposits increased 16.3 per cent and foreign currency deposits just 5.3 per cent.

Remittances to HMC City banks totalled about $326 million, down 4.45 per cent against July.

An estimated $3.7 billion in remittances has been sent to the City since January 1, up 20 per cent against the first seven months of last year and the figure is expected to hit $6 billion by the end of the year.

Overseas Vietnamese have started to reinvest and the labour export market has expanded to raise remittances.

The State Bank of Viet Nam's HCM City branch, says foreign-exchange trading by commercial bank fell 22-25 per cent in July against June.

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