According to the bank, dong loans were up 4.57 percent while foreign currency lending declined 8.07 percent.
Thereis a high possibility that general credit would reach 2.5-3 percent atthe end of this month, which would be a good sign after lending declined1.71 percent in the four months of 2013, the central bank said.
Mobilising interest rates for the dong at many credit institutions nowhover around 5-7.5 percent for terms of less than 12 months and 8-10percent for terms of 12 months or more.
Enterprisesthat can prove their financial situation is healthy and their productionand business plans are effective can manage bank loans with an interestrate of 7-8 percent.
The same day, the central bankissued a circular to amend some articles of its Circular No. 02 datedJanuary 21, 2013 on asset classification, risk provisioning andutilisation of provisioning by credit institutions and foreign bankbranches.
Accordingly, the new circular will come into effect on June 1, 2014 instead of June 1, 2013.
According to the SBV, the amendment is to create more favourableconditions for enterprises to access bank loans, boost credits of theeconomy, while cutting down lending interest rate and easingdifficulties for production and business.
Thecentral bank also asked credit institutions and foreign bank branches tosynchronously implement measures on restructuring and tackling baddebts in line with a project on the restructuring of the creditinstitution system for the 2011-15 period and a project on dealing withbad debts approved by the Prime Minister.
Earlier onMay 18, the Government allowed the SBV to establish the Vietnam AssetManagement Company (VAMC). The 100-percent State-owned organisationimplements activities relating to handling bad debts of creditinstitutions in Vietnam.-VNA
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