In 2013, Da Nang’s credit organisations saw an increase in their total deposits to an estimated 55,000 billion VND, a 12.39% increase over 2012.  Their total outstanding loans were estimated to be 54,000 billion VND, a 6.43% increase.

By late November 2013, the average interest rate on loans for trading and production purposes at local banks was 11.5% pa, a decrease of 2.76% against late 2012.  So far, the total of outstanding loans at interest rates equal to or below 13% pa has reached 39,652 billion VND, accounting for 84% of the total loans.

These figures were released by the Da Nang branch of the State Bank of Viet Nam at its meeting on Wednesday to review the performance of the local banking system over the past year, as well as to identify its key tasks for 2014.

In an effort to help local enterprises overcome their current difficulties and deal with bad debts, the Bank has asked local credit organisations to lower their lending interest rates to below 13% pa.

Also at the meeting, the Bank received an emulation flag from the Prime Minister for its leading achievements last year.  The Bank’s Director, Mr Vo Minh, was awarded a Certificate of Merit from the Chairman of the municipal People’s Committee.