Sign in
|
Register
International Edition
Home
Business & Finance
Investing Tools
News
Live Quote:
On
RSS
My Page
|
Contact Us
RSS
Markets
|
Industries
|
Stocks
|
Analysis Reports
|
Expert Ideas
|
World Indices
|
Currencies
|
Commodities
RSS
Company A-Z
|
Stock Screener
|
My Portfolios
|
Streaming Quotes
|
Technical Analysis
RSS
Markets
|
Companies
|
Banking & Finance
|
Economy
|
Real Estate
|
International
Quotes
News
Reports
Investing Tools
Company A-Z
Company Search
Stock Screener
Portfolios
Trigger Alerts
Technical Analysis
Live Terminal
Mobile Tools
Useful Links
My Profile
My Favorites
Friday, May 3, 2024 10:34:12 AM
-
Markets open
VN-INDEX
1,221.93
+5.57/+0.46%
HNX-INDEX
228.60
+1.11/+0.49%
UPCOM-INDEX
90.20
+0.50/+0.56%
SBV to control real estate loans
Vietnam News - 1/19/2016 2:50:32 PM
(
0 ratings. You must sign in to rate.
)
Print
|
Add To Favorites
|
Email
|
RSS
The central bank will control property loans to limit risks this year, an official told a meeting in HCM City late last week.
State Bank of Viet Nam deputy governor Nguyen Phuoc Thanh said that although credits grew positively with the majority of loans poured into production and business activities last year, many banks pumped too much capital into the real estate market.
Xay Dung, a Ministry of Construction newspaper, reported that property loans grew by 18 per cent year-on-year last year, as commercial banks accelerated financing both property developers and homebuyers.
According to the central bank's credit department, outstanding loans in the real estate sector total about VND360 trillion (US$16 billion), a rise of 80 per cent from the figure recorded three years ago.
"What's worrying, many banks have ‘put all their eggs into one basket' – the realty sector. It is necessary to tightly monitor risks, or else bad debts in this area may soon rise again," Thanh said.
The deputy governor noted that bad debts remained an issue for the banking sector. He added that some banks were facing troubles with enterprises that asked for loan restructuring and lower interest rates to avoid bankruptcy.
The Viet Nam Institute for Economic and Policy Research under the University of Economics and Business said that rallies in the property market were positive signs for the the economy. But caution is needed to prevent "property bubbles" from occuring.
Minister of Construction Trinh Dinh Dung said recently that, at the moment, the property market did not have the conditions to form a bubble. "However, it cannot be ignored," he stressed.
In a resolution issued earlier this month on socio-economic in 2016, the Government asked the central bank to strictly control loans allocated in high-risk areas, including real estate.
This would be part of the central bank's policies to help the country control inflation, maintain macro-economic stability and accelerate economic growth.
Dung said the construction ministry would aim at enhancing the quality of property products in 2016, as the competitiveness of the construction sector remained low.
This was one among its efforts to boost the construction production value by 10 per cent against 2015.
Newer News
19/04
Ministry requests Hà Nội to inspect rising prices of apartments
17/04
Real estate market has positive performances in Q1: VARS
05/04
Developers must verify with foreign homeowner's database before sales
28/03
Management of real estate brokers to be tightened
23/03
HCM City real estate market to recover in H2
23/03
Industrial real estate emerges out of storm
18/03
Lots of ground to cover to build 130,000 social housing units this year
12/03
Deputy PM urges resolving price manipulation for healthy real estate market
12/03
Limit set on interest rates of loans for social housing
21/02
Experts upbeat about real estate prospects
Older News
15/01
Retail space rental in HCMC falls
14/01
80% of VND30-trillion home loan package pledged
07/01
More investments back property market recovery
28/08
VNREA: Jan-Jul housing transactions in city double
27/08
Dong devaluation will have ‘modest’ impact on property market: report
27/08
Tumbling stocks, gold may drive investors to real estate
25/08
Viet kieu, foreigners invest in homes
12/08
HoREA: Property market recovery fragile
05/08
Foreign capital pours into real estate in HCM City
03/08
Vietnam's fast rising property market leaves hard times behind
Newsletter Signup
*
*
Top Stories
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
PM Chính requires strengthened gold market management
Bank shareholders to receive high dividends, stock bonuses
Market Update
HOSE
HNX
UPCOM
World
Last updated at
10:24:59 AM
VN-INDEX
1,221.93
+5.57/+0.46%
Top 5 Actives
Top 5 Gainers
Top 5 Losers
Market Overview
My Favorite Quotes
Recent Quotes
Portfolio Summary
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Current value:
Total gain/loss:
/
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
Choose a sector
Basic Materials
Industrials
Consumer Goods
Health Care
Consumer Services
Utilities
Financials
Technology
Oil & Gas
Telecommunications
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple
Portfolios
to help you better manage your investments.
Trigger Alerts
Get up-to-date
alerts
delivered directly to your email address.
Stock Screener
Allow you to
filter the market
and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME
streaming quotes
for hundreds of stocks from HOSE, HNX and UPCOM exchanges.