Governor of the State Bank Nguyen Thi Hong has just sent a report to the National Assembly on a number of issues related to the group of issues questioned at the 3rd session of the 15th National Assembly. This includes content related to the management and control of credit in the field of Real Estate (Real Estate).
According to the Governor’s report, by the end of April 2022, the total outstanding loans to the real estate sector of credit institutions reached more than VND 2,288 million billion, up 10.19% compared to the end of 2021 and accounting for the proportion of 20.44% of the total outstanding loans of the economy. In which, the bad debt ratio is 1.62% (PV – equivalent to about 37,000 billion VND).
The report also said that real estate investment and business is one of the risky areas for banking activities, requiring control solutions.
Accordingly, the SBV will complete the legal framework through legal documents on safety limits and ratios in banking activities. At the same time, closely monitor the growth of outstanding loans and credit quality for the securities and real estate sectors in order to promptly detect potential signs of risks and take appropriate handling measures. part to ensure the safety of the operation of the system of credit institutions.
In addition, the SBV has also strengthened inspection and examination, focusing on examining the credit applications for the real estate sector of banks. From there, detect problems, shortcomings and violations in credit granting activities to promptly handle and make specific recommendations to limit the risks of credit institutions in credit granting activities in general and real estate in particular.
Regarding difficulties and obstacles, according to the Governor of the State Bank of Vietnam, the real estate market fluctuated sharply, the situation of inflated prices caused a virtual fever in real estate, the situation of land auctions at unusually high prices, etc., which affected the granting of credit. , valuation of collateral assets of credit institutions.
Although the credit situation as well as the credit quality for the real estate sector are still under stable control by the State Bank, in order to limit the impact of the real estate market on the macro-economy and currency, It is necessary to have comprehensive and synchronous solutions with the coordination of relevant ministries, departments and branches.
”Currently, about 94% of real estate loans are medium and long-term loans (10-25%), while the bank’s deposits are mainly short-term. The difference in terms and interest rates between capital and lending for this sector is a big risk for banks, “said the Governor.
In the coming time, the head of the State Bank said, will continue to direct credit institutions to grow credit safely and effectively. Strictly control credit for potential risk areas, including real estate investment and business. At the same time, create conditions for organizations and individuals to access credit sources to buy houses and invest in self-use housing, especially social housing, housing for workers, and low-cost commercial housing. .
In addition, continue to review and coordinate with relevant ministries and branches to complete legal regulations to support the sustainable development of the real estate market; while controlling risks, ensuring system safety.
In addition, the State Bank will also strengthen inspection and close supervision of credit granting to the real estate sector in order to promptly offer solutions to ensure safety in the operation of credit institutions; take measures to prevent and promptly detect arising risks and violations.
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