Vietnam banks bad debts drop to 2.58 pct: data

Thanh Nien News

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The bad debts ratio of the Vietnamese banking sector declined to 2.58 percent as of the end of June, according to new official figures.
It represented a decrease of two percentage points from a month earlier, the central bank's website reported Thursday, quoting Doan Van Thang, deputy director of the Vietnam Asset Management Company.
It was also nearly equal to the five-year low of 2.55 percent banks reported at the end of last year.
Meanwhile, loans outstanding rose by 8.54 percent year-on-year at the end of July, Nguyen Tien Dong, chief of the State Bank of Vietnam’s credit department, was quoted as saying.
The central bank projected the sector's credit growth at 18-20 percent this year, compared to 18 percent last year.

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