According to a report released by the Da Nang branch of the State Bank of Viet Nam (SBV), over the first 6 months of this year local banks maintained a stable growth and followed close behind the year's targets set by the central bank.  This has facilitated the city to implement monetary policies and promote local socio-economic development.

In detail, the city’s banks saw an increase of 8.6% in total deposits, and around 7% in credit growth compared with the end of last year.  Interest rates on deposits, and loans for production activities, continue their downward trend at local banks.

Representatives from the city’s banks remarked that thanks to positive results in capital mobilisation and stable interest rates, local credit growth is expected to reach between 13% and 15% of the year’s target.

In the remaining months of the year, the focus will be on controlling credit growth, and reducing the bad debt ratio to below 3%.  In addition, the city branch of SBV has officially launched its website at http://danangbank.gov.vn in order to publicise its information quickly, and boost the link between local banks and businesses.