So far, although the central bank has yet to announce the detailed data
on credit activities in August and first 8 months in 2010, separate
reports showed the unbalanced situation between mobilisation and lending
in US dollars has not been significantly improved in August.
The report of State Bank -HCM City branch indicated that outstanding
loans in US dollars from banks by late August 2010 continued rising
higher than dong. This phenomenon is common in credit activities of the
banking system, which has been lasting for many months. In HCM City,
outstanding foreign currency loans in August was estimated at about
175.4 trillion dong, up 1 percent from the previous month.
In contrast to strong dollar credit growth, dollar deposits of local
banks in the city reached 167.1 trillion dong, down 4 percent compared
with July. Compared to the first months of 2010, the data showed very
clearly the difference between mobilised and foreign currency lending in
the city with the corresponding figures of credit growth in turn is 5.3
percent and 28.5 percent.
In Hanoi, the Hanoi Statistics Office's figures showed that in the
capital city, by August, the total funds mobilised in both foreign
currency and dong by credit institutions were estimated 708.823 trillion
dong, up 1.21 percent over the previous month and up 21.06 percent in
2009 compared to July.
If compared with the corresponding figures in July, up 4.74 percent and
respectively 25.74 percent, mobilising capital in the province of the CI
decreased in August, while total outstanding loans the end of August is
estimated at 444,833 billion, up 1.32 percent over the previous month
and up 18.02 percent in 2009 compared to last.
This evolution shows that the difference between lending and
mobilisation of the greenback in the banking system is still not
improved significantly because by the end of July, dollar credit growth
of the entire banking system reached 34.4 percent and more than 2.5
times the growth of outstanding loans in dong (nearly 13 percent).
While the dollar mobilisation by July was down 0.25 percent over the
previous month and decreased by 2.4 percent compared to late December
2009. The imbalances between mobilisation and lending in dollars now,
according to SBV, is partly because foreign banks have disbursed a
higher amount of US dollar loans than mobilised dollars, exceeding 48.6
percent.
In contrast to foreign currency inflows, dong credits are witnessing the
imbalance with a surplus of moblised capital and slow lending growth.
SBV-HCM City Branch's data showed in January - August, mobilised dong
capital of banks in the city increased 16.3 percent, but loans rose only
5.8 percent.
Compared with first 7 months of 2010, mobilised capital increased by 0.3
percent, but outstanding loans rose by only 0.1 percent. The difference
between capital mobilisation and lending in dong in first eight months
in 2010 at HCM City banks is up to 11.3 percent.