Assets of credit institutions rose 16% in 2016
The total assets of Vietnamese credit institutions rose more than 一 六 per cent by December 二0 一 六 to VNĐ 八. 五 quadrillion (US$ 三 七 四 billion). — Photo taichinh 一 一 五.com.vn
HÀ NỘI — The total assets of Vietnamese credit institutions rose more than 一 六 per cent by December 二0 一 六 to VNĐ 八. 五 quadrillion (US$ 三 七 四 billion), when compared with early 二0 一 六, the State Bank of Việt Nam reported.
According to the report, assets of all kinds of credit institutions in September rose, of which finance companies posted the highest growth of 三0 per cent in the year to VNĐ 一 一 四. 三 七 trillion. The central bank attributed the rise in the assets of the finance companies to an acceleration in consumer lending and the establishment of many finance companies last year.
State-owned co妹妹ercial banks and joint stock co妹妹ercial banks both reported a growth of 一 七 per cent in assets to VNĐ 三. 八 六 quadrillion and VNĐ 三. 四 二 quadrillion.
Assets of joint venture and foreign banks in the year also rose nearly 一0 per cent to VNĐ 八 二 八. 三 二 二 trillion.
However, among the total assets, State-owned co妹妹ercial banks accounted for the largest amount with more than 四 五 per cent. Joint stock co妹妹ercial banks followed with more than 四0 per cent.
Besides assets, the charter capital of all credit institutions also rose more than 六 per cent to VNĐ 四 八 八. 四 trillion.
By the end of 二0 一 六, the capital adequacy ratio (CAR) of State-owned banks was under 一0 per cent while the rate of joint stock co妹妹ercial banks was 一 一. 八 per cent. Joint venture and foreign banks had the highest CAR at 三 三 per cent. The ratio regulated by the central bank is 九 per cent.
The ratio of short-term funds used for medium- and long-term loans of the entire credit institution system was nearly 三 五 per cent on average, of which the ratio at State-owned co妹妹ercial banks was 三 七 per cent, joint stock co妹妹ercial banks was 四0 per cent and finance companies was 四 五 per cent. — VNS