System-wide credit balance expected to increase by 3.8% in Q2/2024
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- Business
- 17:19 11/04/2024
DNHN - The system-wide credit balance is expected to increase in Q2/2024 and the whole of 2024, although this forecast has been revised down from previous estimates.
Credit institutions (CIs) have announced the results of a survey on business trends in Q2/2024, conducted by the State Bank of Vietnam (SBV), providing an overview of the banking system’s operations during this period.
In the first three months of the year, customer demand for loans has not shown any signs of improvement and has even been lower than previous expectations. However, businesses have maintained a higher level of demand for loans than individuals and other CIs. Meanwhile, demand for deposits and use of payment services remains low compared to the previous quarter.

The system-wide credit balance is expected to increase in Q2/2024 and the whole of 2024, although this forecast has been revised down from previous estimates. However, the ratio of bad debt to credit balance increased slightly in Q1/2024 but is expected to decrease in Q2/2024.
The interest rate level for mobilisation and lending is expected to remain low in Q2/2024 and 2024, with no significant change compared to the previous quarter. The forecast for system-wide capital mobilisation also shows growth, although at a lower level than previous estimates.
Meanwhile, the overall business situation and pre-tax profit of the banking system in Q1/2024 have not met expectations due to the impact of seasonal factors. However, CIs remain optimistic about their prospects in Q2/2024, although they still warn of potential risks and are cautious when making expectations for the whole of 2024.
Overall, despite positive signs such as the prospect of improving demand for loans and a decrease in the bad debt ratio, there are still challenges to be faced, especially in stimulating demand for deposits and payments. CIs need to continue to face the fluctuations and carefully consider adjustment measures to maintain stability and sustainable development in the coming period.
P.V
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