Hanoi's banking sector aims to increase total capital mobilisation

Hanoi(VNA) - Hanoi's banking sector aims to increase total capital mobilisation by
25-27 percent in 2011, compared to the previous year's figures and boost total
outstanding loans by 23-25 percent to contribute to the capital's economic
development.

Hoang Manh Hien, vice chairman of the Hanoi People's Committee, said Hanoi targets a
12-percent GDP (Gross Domestic Products) growth this year and to complete such a
high target needs support from all ministries and especially the banking sector.

As of December 31, total mobilisation of Hanoi-based credit institutions surpassed
767.68 trillion VND (36.55 billion USD), a year-on-year increase of 31.1 percent,
which exceeded the annual target with a 28-30 percent increase.

Deposits in dong (VND) were up by 38.6 percent and US dollar (USD) deposits
increased 12.5 percent.

Last year, there were 494.77 trillion VND in total outstanding loans, a 31.2 percent
increase over the same period in 2009. The amount exceeded the 2010 target of 25-27
percent growth. Loans in VND rose by 25.1 percent and foreign currency loans
increased by 46.7 percent.

Hien said he appreciated the contributions that local banks made to Hanoi's economic
achievements last year, particularly with the capital's 11-percent growth in GDP.

He stressed the important support provided by local banks that helped to create a
sound and sustainable economic infrastructure, especially by boosting lending to
rural areas, exporters and medium and small enterprises.

Since last November when interest rates tended to rise abnormally, the central
bank's Hanoi branch and bankers' association jointly called for consensus from 12
commercial banks in the area to limit interest rate hikes, which would help to
stabilise the currency market.

Last year, commercial banks in the locality also focused on developing new and
modern banking services. To date, 3,248 state-owned units in Hanoi opened 158,048
bank accounts for employees.

On the occasion of the 1,000th birthday of Thang Long-Hanoi, local banks invested in
1,994 ATMs (Automatic Teller Machine) and 11,000 POS (Point of Sale) machines as
part of the first pilot project that is working to connect POS systems in the
city./.