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 VIETNAM HCM City: Bad Debts Rise to 5.3% by Mid-May/2012

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1alaskan
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PostSubject: VIETNAM HCM City: Bad Debts Rise to 5.3% by Mid-May/2012   Wed May 16, 2012 4:56 pm

HCM City: Bad Debts Rise to 5.3% by Mid-May/2012

VietFinanceNews.com - Bad debts at banks in Ho Chi Minh City, as of mid-May this year, climbed to 5.3% of total outstanding credits.

Bad debts at banks in Ho Chi Minh City, as of mid-May this year, climbed to 5.3% of total outstanding credits, versus 4.3% in late 2011, the local online newspaper Thanh Nien quoted Nguyen Hoang Minh, deputy director of the municipal central bank, as saying.

Liquidity of HCMC-based banks has much improved; yet credit institutions in the city, particularly financial leasing companies and joint-venture banks, are facing rising bad debts.

Credit growth of HCMC-based credit institutions in the first four months of the year slid 0.64% from late last year, Minh said, adding that bank lending in the area can only expand by around 10% in 2012.

Difficulties of local firms worsen bad debt problems; and the State Bank of Vietnam (SBV) has been implementing various measures to aid both businesses and banks, Minh said.

http://www.vietfinancenews.com/2012/05/hcm-city-bad-debts-rise-to-53-by-mid.html

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