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Vietnam's Eximbank projects 2014 lending up 23 pct y/y
January 27, 2014 / 1:45 AM / 4 years ago

Vietnam's Eximbank projects 2014 lending up 23 pct y/y

HANOI, Jan 27 (Reuters) - Eximbank, Vietnam’s 10th biggest lender by assets, said on Monday it sees 2014 lending rising by 23 percent from last year to 109 trillion dong ($5.2 billion), above the targeted credit growth of the country’s entire banking sector.

Eximbank, 15 percent owned by Japan’s SMFG, aims to raise deposits by 21 percent to 100 trillion dong and keep bad debt at 3 percent of loans, the Management Board of the Ho Chi Minh City-based bank said in a statement dated Jan. 23.

Vietnam’s banking sector has planned to keep this year’s annual credit growth at 12-14 percent to fuel quickening economic growth targeted at 5.8 percent. In 2013, loans rose 12.51 percent and the economy grew 5.42 percent.

Eximbank has not released 2013 earnings. ($1=21,035 dong)

Reporting by Ho Binh Minh; Editing by Paul Tait

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