Housing credit in Vietnam on rise: central bank

 - Sakshi Post

Hanoi, Sep 11 (IANS) Housing credit in Vietnam's southern hub Ho Chi Minh (HCM) City has been on the rise as the property market finds its footing and path to recovery, Vietnam News agency cited the State Bank of Vietnam (SBV) as reporting on Wednesday.

According to the SBV branch in HCM City, as of the end of July, the city's total outstanding credit for the property market has reached over 1 trillion Vietnamese dong (40 million U.S. dollars).

Housing credit, including social housing, commercial housing and several other categories, accounted for a significant portion, at 57 per cent of the property market's outstanding credit.

Social housing credit reached 2.54 trillion dong, an increase of 78 per cent since the beginning of this year, said the report, Xinhua news agency reported.

Nguyen Duc Lenh, Deputy Director of the SBV Branch in HCM City, said a sharp rise in credit could be attributed to the financial system's efforts to speed up the disbursement of social housing credit.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.


Read More:

Advertisement
Top Stories
 - Sakshi Post
April 28, 2025
Parshuram Jayanti marks the birth of Lord Parshurama, the sixth incarnation of Lord Vishnu, who is revered for his strength, wisdom, and commitment to justice. Celebrated on the third day of the Shukla Paksha in the month of Vaishakh, it falls on April 29, 2025. On this auspicious day, devotees pay homage to Lord Parshurama, seeking his blessings for strength, wisdom, and righteousness.
Video
Back to Top