This is the result of the survey on business trends of credit institutions recently conducted by the State Bank of Vietnam.
According to this survey, credit institutions expect that outstanding credit growth in the fourth quarter of 2017 is 6%.
Growth in 2017 is expected to be 17%, higher than survey in June.
According to a report of General Statistics Office in September, the credit growth of the entire economy was 11.02%. This figure of the same period last year was only 10.46%.
Besides, the Government's target of credit growth of the whole year recently mentioned is 21% in order to promote production and business.
In term of capital mobilization throughout the banking system, the survey results show that banks expect the growth of 5.32% in the last quarter and 16% in 2017.
The average interest rate is expected to fall by 0.22% on lending rates and 0.17% on deposit rates in the fourth quarter.
Most banks have strong expectations for the recovery of demand for loans as well as demand for savings and payment services of customers.
According to the survey, credit institutions also expect a 13.6% increase in average pretax profit.
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The United Capital Management Joint Stock Company (Unicap) which manages investment funds will provide financial services to FLC and Faros in the near future.
Techcombank has announced that two separate legal entities managed by Warburg Pincus will invest over US$370 million into the Bank, subject to appropriate regulatory approvals.
In only the first two months of this year, the banking, financial services and insurance sector (BFSI) of Vietnam received up to US$1.45 billion worth of investment.
It is feared that the escalating trend of trade protectionism will hinder global growth and make many businesses struggle for survival.
According to the World Bank, remittances to Vietnam in 2017 are estimated at a record high of US$13.81 billion, increasing by US$1.9 billion, equivalent to 16% over 2016.
Within less than five months leading the Southeast Asia Joint Stock Commercial Bank (SeABank), Nguyen Canh Vinh has resigned from this position since February 8, 2018, for personal reason.
