Credit institutions hope for better results in 2018
Most credit institutions reported good results in the second quarter of this year, and expected their business performance throughout 2018 to be better than the previous year.
Hanoi (VNA) – Most creditinstitutions reported good results in the second quarter of this year, and expectedtheir business performance throughout 2018 to be better than the previous year.
During the period, demand for loans,deposits and payments and cards increased 51.1 percent, 36.9 percent and 35.4percent, respectively, according to a survey conducted by the State Bank ofVietnam (SBV) in June.
The credit institutions hoped that thedemand would continue to surge in the next quarter and the entire year.
Up to 82.5 percent of respondents expectedthat risks for customers will remain stable in the third quarter while 6.5percent thought risks would reduce in the period.
The credit institutions estimated that baddebts and credit outstanding balance will stay low till the end of 2018, lowerthan that the rates posted in the same period last year.
They expressed optimism on the liquidity ofthe banking system in both Vietnamese dong and foreign currencies.
The survey revealed that 67.4 percent ofcredit institutions said their business in April-June was better than theprevious quarter, 76.1 percent of them had high hopes for July-September while82.6 percent hoped for business improvement through 2018.
Up to 88 percent of the intervieweespredicted their pre-tax profits in the year to rise against 2017, with totalprofits expected to grow 19.05 percent on average, higher than the 18.2 percentforecast in the first-quarter survey but lower than the 19.33 percent rate inthe survey conducted in the fourth quarter of 2017.
Meanwhile, 46 percent of the creditinstitutions said they had employed more workers in the second quarter and 30percent of them reported a lack of necessary labour force, and 62 percent ofthem aim to recruit more labourers in the third quarter of 2018.
It is estimated that 70 percent of thecredit institutions will increase the number of workers in the end of 2018, 23percent will retain their present labour force and only 7 percent will cutpersonnel.
The respondents anticipated that capitalmobilisation of the entire system will expand 5.45 percent in the third quarterand 16.51 percent in the year, both higher than the figures recorded in 2017.
Credit outstanding balance is projected tosurge 5.99 percent in the third quarter and 16.78 percent in 2018, also higherthan the numbers in 2017.-VNA
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Illustrative photo (Photo: VNA) 
