The gap between mobilization and outstanding bank loans in Hai Duong widened to nearly 1,000 billion VND.

According to data compiled by the State Bank of Hai Duong province, by the end of February 2024, the total mobilized capital of the entire banking sector was estimated at VND 194,306 billion, down 0.7% compared to the end of 2023. At the same time, the total outstanding credit balance was VND 131,600 billion, down 1.8% compared to the end of 2023.

Thus, the difference between mobilized funds and outstanding loans of the entire banking sector in Hai Duong at the end of February 2024 was VND 62,706 billion, an increase of nearly VND 500 billion compared to the difference between mobilized funds and outstanding loans at the end of January 2024, an increase of nearly VND 1,000 billion compared to the end of 2023.

Normally, the end of the lunar year (ie January 2024) is the time when people and businesses collect profits from production and business activities; along with that, right after the Lunar New Year holiday, the capital demand of people and businesses is not high. This is the main reason why credit balance in the first two months of 2024 grew negatively. In addition, some investment channels, especially real estate, have not yet recovered their attractiveness, causing idle money to continue to "flow" into banks, even though the mobilization interest rate is currently low. Therefore, the gap between mobilization and bank debt is widening.

In that context, on March 5, the Prime Minister sent a telegram to the Governor of the State Bank of Vietnam, requesting the banking sector to immediately implement management solutions to continue reducing lending interest rates in conjunction with increasing access to credit capital to support people and businesses in developing production and business; continue to direct credit capital into production and business sectors, priority sectors and traditional growth drivers such as consumption, investment, export, digital transformation, climate change response, green transformation, circular economy, science-technology and innovation, etc.