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Banks began to tighten their grip on investment capital and real estate business

A joint-stock commercial bank in Ho Chi Minh City has just sent a document to the entire system of branches and transaction offices on controlling credit growth in 2022, requesting “not to grant credit to the sector. real estate (except for cadres, employees and relatives to buy/build/repair real estate to live in).

This policy is applied by the bank from the end of March to June 30. The credit granting will focus on production sectors, with priority given to agriculture, rural areas, exports, supporting industries, small and medium-sized enterprises, hi-tech enterprises and commercial industries. high value-added services such as export, service, logistics…

As announced in the above document, this bank also temporarily suspends home loans for individual customers to buy/build/renovate houses to live in.

Banks began to tighten their grip on investment capital and real estate business - 1

The bank has announced the suspension of real estate loans, including home loans, to individual customers.

Explaining the policy of temporarily suspending lending to the real estate sector, a leader of this bank said that the credit policy was applied from time to time, in line with the actual situation of credit growth in various sectors. sector, not a ban on real estate lending. Operating credit lines for each field, including real estate, is a common practice for banks.

The policy of temporarily suspending disbursement for the real estate sector, including lending to buy houses to live with individual customers, is also applied by some other banks, from time to time.

Facing the trend of tightening capital inflows into real estate, many homebuyers are concerned that it will be difficult to access bank capital or that lending interest rates will increase. In fact, many other commercial banks still provide credit and disburse loans to customers to buy houses to live in, but lending interest rates will be difficult to reduce or may increase in the near future.

According to the State Bank of Vietnam, as of March 23, credit across the country economy increased 4.21% compared to the end of last year, higher than the same period of 1.62%, thereby showing that capital demand is recovering.

Previously, according to the action plan of the banking industry this year, State bank also require credit institutions to direct credit to production – business, priority areas. Do not loosen credit granting conditions and continue to strictly control credit in potentially risky fields such as investment, real estate business, securities…

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