More than 95 percent of domestic banks plan not to provide new loans for
securities investment, according to a recent State Bank of Vietnam
(SBV) report on economic outlook for 2013.
Forty five percent of the banks will narrow credit in this area this year, said the report.
Financial news website cafef.vn quoted the report as saying that
commercial banks will concentrate capital on lending into important
commodity sectors to foster economic growth.
According to the
source, about 87 percent of banks won’t increase credits for the real
estate sector and 41 percent will reduce property lending.
Up
to 90 percent of lending institutions expect to maintain and increase
credits for areas prioritised by the Government, including agriculture
and rural development, export, support industries and small and
medium-sized enterprises.-VNA