Many ‘big guys’ increased real estate lending
The State Bank (SBV) said that by the end of 2023, outstanding debt to the real estate sector is about 2.75 million billion VND, an increase of about 6.75% compared to the beginning of the year.
In particular, credit for real estate business increased by 22%, accounting for about 26% of total outstanding loans in the real estate sector.
A series of solutions of the Government and the State Bank of Vietnam in recent times have been effective, creating conditions to overcome difficulties for real estate projects. Thanks to that, the lending rate for real estate business activities at some banks such as HDBank, Techcombank, VPBank, SHB, MSB, MB, TPBank increased compared to the end of 2022.
Meanwhile, banks recording a decrease in the proportion of real estate loans include: VIB, Kienlong Bank, PGBank, VietBank, BVBank.
Techcombank has the largest proportion of loans for real estate business activities on total outstanding loans among banks that publicly disclose details, with a proportion of 35.22% as of December 31, 2023, compared to the same period last year. Previously it was 26.44%.
VPBank ranked second with a real estate loan proportion of 19%, while at the end of 2022 it was 14.39%.
Real estate loans at VietBank are also up to 19%, but this rate is down 1% compared to the end of 2022.
Some other banks also sharply increased their real estate lending rates such as SHB from 8.33% to 15.45%; MB increased from 4.91% to 7.49%.
MSB recorded a slight increase from 8.75% to 8.96% of total outstanding loans, TPBank increased from 6.31% to 7.12%, while this ratio at Saigonbank remained unchanged at 6%.
On the contrary, some banks recorded a decrease in this ratio. BVBank recorded a slight decrease from 14.4% to 13%, PGBank decreased from 8% to 6%, KienLong Bank decreased from 6.6% to 4% and VIB decreased from 0.86% to 0.63%.