Credit institutions expect better results in Q2

Local credit institutions' fund raising was predicted to surge by 13.74 per cent in 2019.

The survey released by the Monetary Forecasting and Statistic Department under the State Bank of Vietnam indicate that 70 per cent of the queried credit institutions (CIs) reported that their business and operations have made progress in the year’s first quarter in comparison with the previous quarter.

Of these respondents, 14.3 per cent believed their business has been “much improved” against the previous quarter.

Up to 81 per cent of the surveyed CIs expected that business would be better moving into the second quarter of the year, higher than the 79.3 per cent which gave the answer in the previous survey which was released last December.

The newly-announced survey cited comments by the CIs as saying that local demands for loans, deposits, payment services, and bank cards during the first quarter of 2019 soared against the previous quarter. These demands are predicted to increase throughout the year.

Of note, demand for loans in the remaining quarters of 2019 is forecast to increase higher than those for deposits, payment services, and bank cards.

Fund raising by local CIs as well as the outstanding loans among nationwide banks were set to enjoy respective surges of 13.74 per cent and 14.51 per cent in 2019.