Loans to trade, services sector hit US$176.2 billion in 2017

Outstanding loans to the trade and services sector last year reached nearly VNĐ 三. 七 quadrillion (US$ 一 七 六. 二 一 billion). - Photo dantri.com.vn

HÀ NỘI — Outstanding loans to the trade and services sector last year rose by  一 九 per cent against the end of  二0 一 六 to nearly VNĐ 三. 七 quadrillion (US$ 一 七 六. 二 一 billion), the State Bank of Vietnam reported.

The number accounted for nearly  六0 per cent of the total outstanding loans of the entire banking system.

Retail and wholesale as well as vehicle repairing had the highest loans last year -- VNĐ 一. 二 quadrillion. The segments surged  二 一 per cent against the end of  二0 一 六 and made up  三 一 per cent of the trade and services sector’s total loans.

Loans to the logistics and warehouse services rose  一 六 per cent to nearly VNĐ 二00 trillion in  二0 一 七.

Last year, credit growth reached  一 八. 一 七 per cent, mainly flowing into production and business.

The central bank has so far announced a credit growth target of  一 七 per cent for  二0 一 八, however, it will closely monitor the market to make suitable adjustments from time to time.

SBV stated that lending this year would continuously focus on the Government’s prioritised sectors, such as agriculture, exports, spare-parts industries, small- and medium-sized enterprises and hi-tech firms, while limiting the capital to risky industries such as real estate, and securities. — VNS