In line with audited semi-annual monetary statements, many banks have diminished excellent loans for actual property enterprise within the first 6 months of 2021.
Particularly, LienVietPostBank’s monetary statements confirmed that the financial institution’s excellent loans for actual property enterprise decreased by 52% within the first half of the yr to VND 1,672 billion. Accordingly, the proportion of actual property loans at this financial institution is just 0.87%.
At VPBank, excellent loans for actual property actions additionally decreased by 12% to VND 32,422 billion. In the meantime, money stream nonetheless flows strongly into private loans to purchase homes, obtain land use rights, excellent loans elevated by 26% to greater than 45,800 billion dong.
Equally, excellent loans for actual property enterprise at ABBank decreased by 13% to 2,694 billion dong. In the meantime, the money stream was robust in different areas reminiscent of
At MB, excellent loans for actual property actions decreased barely by 75 billion dong to 9,320 billion dong. In the meantime, MB promoted credit score flows into different areas reminiscent of family employment; wholesale and retail loans, vehicles, motorbikes; manufacturing and processing trade. MB’s whole credit score stability elevated by 10.9% within the first half of the yr and reached greater than 314,900 billion VND. At present, lending to actual property enterprise solely accounts for a really small proportion at MB, solely 3.31%.
At another banks, actual property credit score excellent continued to extend within the first half of 2021, however the progress charge was decrease than the overall common of excellent loans of the entire economic system. For instance, at ACB, excellent loans for actual property enterprise and consulting actions elevated by 3.7% to VND4,915 billion. This improve is decrease than the typical, whole credit score in all financial sectors at ACB elevated by 9.4% within the first 6 months, reaching VND 336,652 billion. At present, the actual property sector solely accounts for 1.46% of ACB’s whole mortgage stability.
However, there are nonetheless some banks selling actual property lending within the first half of the yr. For instance, at Techcombank, excellent loans for actual property enterprise elevated by 11% to greater than 101 trillion dong. TPBank additionally recorded excellent loans on this space elevated by 10.7% to VND 8,984 billion.
On the survey of credit score tendencies of credit score establishments carried out by the Division of Forecasting and Statistics – the State Financial institution of Vietnam (SBV), credit score establishments stated they’d barely loosen up their total credit score requirements. for many buyer teams within the final 6 months of 2021. Nonetheless, banks are nonetheless anticipated to tighten their Investing in securities enterprise, Investing in actual property enterprise, Enterprise finance, banking and insurance coverage and Funding, tourism enterprise.
Within the current discount in lending rates of interest to help companies and folks, some banks additionally stated that they don’t apply to excellent loans for actual property enterprise. The article of precedence to scale back rates of interest are primarily companies offering lodging providers, eating places, and manufacturing companies which might be important for the economic system.
Vietcombank – the “massive” financial institution not too long ago stated that it’s going to proceed to scale back rates of interest as much as 0.5%/yr for all excellent loans of consumers in Ho Chi Minh Metropolis and Binh Duong province and cut back rates of interest to 0 .3%/yr for all the mortgage stability of consumers in different southern provinces and cities that apply social distancing in keeping with Directive 16/CT-TTg of the Prime Minister. Nonetheless, this financial institution famous, the above rate of interest discount doesn’t apply to securities loans, actual property enterprise loans, mortgage loans of priceless papers …
In the meantime, many actual property companies stated they had been going through many difficulties because of the Covid-19 epidemic and urged that banks additionally cut back help rates of interest. Nguyen Thi Thanh Huong, Basic Director of Dai Phuc Land Firm, stated that the actual property firm is going through many difficulties, particularly money stream. Income stagnated, no revenue, however financial institution curiosity and curiosity from borrowing from different sources nonetheless should be paid on a month-to-month foundation.
Accordingly, Ms. Huong stated that banks want to contemplate decreasing rates of interest, freezing money owed and decreasing in order that buyers have extra assets to develop initiatives to launch merchandise within the fourth quarter of this yr. As for brokerage companies, with a purpose to keep operations, they should pay the price of premises and workers, and in addition want mortgage capital to pay salaries. At present, the supply of loans to pay salaries that companies have entry to could be very low.
Most buyers use loans from banks and different types of monetary mobilization. Within the regular state when the money stream is secure, the power to repay the mortgage is assured. Nonetheless, within the present scenario when income and money stream are severely diminished, the monetary strain on buyers is extraordinarily giant and dangerous.
Beforehand, HoREA (Ho Chi Minh Metropolis Actual Property Affiliation) additionally despatched a written request to the State Financial institution and industrial banks to contemplate supporting companies, together with decreasing mortgage rates of interest by about 2% per yr. for actual property companies, buyers, residence mortgage prospects. Industrial banks are urged to contemplate not transferring the debt group (worse) for loans due.
On the similar time, HoREA urged that industrial banks take into account and create situations for companies, together with actual property companies, to entry new loans for venture implementation.
Many specialists stated that the present actual property lending rate of interest has been very low for a few years, if it continues to lower additional, the danger for the market could be very excessive. The current waves of land fever can even make banks afraid to pour cash into this discipline. The State Financial institution has additionally repeatedly stated that it’s going to proceed to strictly management credit score flowing into dangerous areas, together with actual property.
Nonetheless, many banks nonetheless have insurance policies to scale back rates of interest geared toward giving incentives to individuals who wish to purchase homes to reside in, and on the similar time, rigorously appraise them to keep away from loosening for speculators.
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