At the meeting on the socio-economic situation of Ho Chi Minh City in the first quarter and tasks and solutions in the second quarter of 2024 this afternoon (April 2), Mr. Vo Minh Tuan, Director of the State Bank of Ho Chi Minh City branch, said that as of the end of the first quarter, credit growth increased by 8% over the same period, capital mobilization growth reached 7% over the same period.
In Ho Chi Minh City alone, the total capital mobilization of Credit institutions by the end of March were estimated to reach 3.4 million billion VND, up 0.25% compared to the end of February and up 7.07% over the same period last year.
Total outstanding credit debt of credit institutions by the end of March was estimated at 3.5 million billion VND, up 0.5% compared to the end of February and up 7.95% over the same period last year. .
According to the direction of the Government The State Bank of the banking sector in the city combined with the People’s Committee to organize many conferences connecting banks and businesses to expand access to capital.
About the room to reduce interest rates interest rates in the coming time, Mr. Tuan said that in the first quarter, deposit interest rates have decreased by 0.3 percentage points compared to the beginning of the year and lending interest rates have decreased by 0.5 percentage points. “The current interest rate is very low, even lower than during the Covid-19 pandemic,” Mr. Tuan emphasized.
According to him, the problem of accessing capital comes from human businesses. Are people eligible to access bank credit?
In the second quarter, the State Bank of Ho Chi Minh City Branch will continue to direct credit institutions in the area to focus on promoting credit to the industry. The sector is the growth engine of the economy.
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