news Published on April 8, 2019

Credit institutions expect better results in Q2


As many as 81% of local credit institutions put high hopes on further improvement in their operations in the first quarter of 2019 whilst 88% of them expect their business for the whole year to get better against the previous year, according to a recent insightful survey.

The survey released by the Monetary Forecasting and Statistic Department under the State Bank of Vietnam indicate that 70% 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% 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% 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.

Fundraising by local CIs as well as the outstanding loans among nationwide banks were set to enjoy respective surges of 13.74% and 14.51%t in 2019.