Strict control of real estate loans

In it, Sacombank stated that it will not credit extension for new customers in this field until the end of June. Techcombank also stated that it will suspend disbursement of certified real estate loans and secondary loans from March 25.

Regarding the general operating policy, the State Bank only advocates strictly controlling real estate lending activities without stopping completely.

In fact, over the years, the State Bank has always issued warnings and strictly controlled real estate lending activities. The State Bank also requires banks to set aside a certain percentage of the total outstanding loans to lend to this sector in order to reduce risks.

The above move by banks is to ensure compliance with the State Bank’s regulations on credit growth control.

Previously, from mid-March, the State Bank of Vietnam issued an action plan of the banking industry to implement Resolution 11 of the Government, in which the agency required banks: not to relax conditions. credit extension; at the same time, strictly control credit in potentially risky areas, including real estate investment and business.

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