City encourages banks to loosen credit
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A major conference will be held soon in which banks will describe their lending conditions, including preferential measures, to enterprises that need access to bank loans, according to HCM City People's Committee vice chairwoman Nguyen Thi Hong.
In recent months, the committee has been working with the State Bank of Viet Nam’s (SBV) branch in HCM City, districts, associations and industry sectors to set up meetings between banks and enterprises.
As a result, within one month, about 4,200 enterprises involved in four priority sectors received bank loans worth a total of VND21 trillion (Bt34.16 billion) at the interest rate of 13 per cent.
Nguyen Ngoc Thang, deputy director of the SBV branch in the city, said the local banking sector's bad debts continued to rise over the last six months, accounting for 6.3 per cent of total outstanding loans.
