Credit institutions expect rosy prospects for 2019
Most of credit institutions have expected better business performance for the fourth quarter as well as the whole of 2019, according to a recent survey by the State Bank of Vietnam.
Most of credit institutions have expected better business performance for this year (Photo: VNA)
Hanoi (VNA) – Most of credit institutions haveexpected better business performance for the fourth quarter as well as thewhole of 2019, according to a recent survey by the State Bank of Vietnam.
The September survey shows that 82.3 percent ofthe questioned credit institutions forecast quarterly improvement in theirbusiness performance for Q4, and 87.1 percent expected the same for this yearcompared to 2018. Notably, 28.4 – 29.7 percent of them predicted “muchimprovement”, compared to 20 – 27.4 percent in the June survey.
Up to 91 percent of the interviewees believedthat their pre-tax profit this year will increase from 2018, 3 percent forecastunchanged figures, and 6 percent were worried about a decline.
The mobilised capital across the system isexpected to grow 4.39 percent in Q4 and 13.06 percent in 2019, down 0.42percent from the previous survey’s forecast but still higher than the12.45-percent pace in 2018.
Credit growth of the whole system is forecast at4.85 percent for Q4 and 13.61 percent for this year, down 0.72 percent from theexpectation in the previous survey and also lower than the 13.88-percentexpansion in 2018.
Meanwhile, 79.4 percent of the credit institutionspredicted that risks of client groups will remain unchanged, 12.8 percent saidrisks may rise “slightly”, and 7.8 percent expected they will decrease.
For 2019, 60 percent said risks of client groupswill stay stable compared to last year, and another 20 percent expected a fall.
According to the survey, 76.5 percent of therespondents reported improved business performance in Q3 compared to Q2, with20.6 percent “much improved”./.
The State Bank of Vietnam (SBV) has warned local commercial banks to tighten control of loans that use savings books as collateral to ensure the safety of the banking system.
With a positive macroeconomic background at the moment, interest rates will basically stay steady until the end of the year due to excessive liquidity and proper credit growth, according to an official from the State Bank of Vietnam (SBV).
The State Bank of Vietnam (SBV)’s Governor or the directors of SBV’s municipal and provincial branches will be able to lace credit institutions under the SBV’s special control, starting from next month.
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Most of credit institutions have expected better business performance for this year (Photo: VNA) 
