Banks expected to maintain good performance in 2019
A majority of credit institutions in the country expect an upward trend in their business in 2019 after gaining good results last year, according to a State Bank of Vietnam (SBV) survey released late last week.
A transaction office of the Vietnam International Commercial Joint Stock Bank (VIB) (Photo: VNA)
Hanoi (VNS/VNA) - A majority of credit institutions in the countryexpect an upward trend in their business in 2019 after gaining good resultslast year, according to a State Bank of Vietnam (SBV) survey released late lastweek.
Under the business sentiment survey, which covered domestic and foreigncommercial banks operating in the country, 86 percent of credit institutionssaid their business situation improved in 2018, and 88 percent hoped it wouldcontinue to get better this year, of which 35 percent anticipated ‘significantimprovement’.
A majority of the institutions also believe the banking system’s liquidity interms of both the Vietnamese dong and foreign currencies will remain positivein 2019.
They said the rate of non-performing loans out of the outstanding creditbalance was kept at a low level last year and tends to decline in 2019. Theyexpect a growth rate at 13.9 percent for capital mobilisation and a creditgrowth rate at 15.27 percent by the end of this year, with faster growth inmobilised capital and credit in the Vietnamese dong.
The institutions added the business environment for them has been stronglyimproved since last year and more improvement was expected for this year.
About 80.7 percent of them predict the demand for banking services willincrease, and clients will have the biggest demand for getting loans, makingdeposits and using payment services.
While 63.5 percent forecast overall risks of all client groups will remainstable in 2019, 15.3 percent said the risks are likely to decrease, the surveyshows.
With optimism about growth prospects for 2019, banks also forecast theindustry’s labour market to see positive changes in the coming months, of whichsome 76.74 percent of them plan to recruit more this year and 18.61 percent tokeep the workforce unchanged.-VNS/VNA
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A transaction office of the Vietnam International Commercial Joint Stock Bank (VIB) (Photo: VNA) 
