Beware of real estate credit in Vietnam
Dynamic channel funding
According to Governor Nguyen Van Giau, through December 2 / 2011, total outstanding non-production areas, including securities lending business, consumers, especially the estate of the banking system is 431 thousand billion, accounting for 18.7% of total loans. There is another figure from the State Bank is the end of 2010, real estate loans accounted for 228 trillion, up 23.5% over 2009.
According to this position, along with Resolution 11 of the Government, and Directive No. 01/CT-NHNN 2956/NHNN-CSTT documents, the State Bank are working towards a credit line in the manufacturing sector such as agriculture rural industry, supporting industries, export business, small and medium enterprises ... but do this or not, the story is not simple.
Because, if you compare benefits, loan production only 17% per annum business has been called, while non-manufacturing lending, including real estate is to 23-25% per year, has not been "cried" more interest than the banks are so salty that funding for this area. Who had access to more data about the structure of bank debt at a level equivalent to the leadership of the State Bank of remarks, production credit is funding channels currently active. Because if debt maturity is not obtained, the bank will distraint and sale under which the market price is collected immediately. While manufacturing companies at risk, forced to sell the line ... do not know when! Hence, the past few years, the industry is groaning with high interest rates, because just at 15% per year have been losses, including doing good business, while banks are still .. . good!
In fact, now is not a new State Bank for strict non-production credit, especially for property loans, but banks still have some way to dodge. " For example, when making records, bank records can advise borrowers to have a distinction between a "business loans for investment in infrastructure, real estate" to attach to it a label as "the business loans "to make a difference with the record" for speculative real estate lending. "
Second, one of the many objectives of the State Bank as the credit limit on non-manufacturing sector is to avoid risk, but commercial banks have a different outlook on risky assets at the point sure, of course, short-term perspective. For example, standing in front of words "urgent" a customer's real estate investors are willing to mortgage a house 14 billion market value to $ 5 billion loan, the interest rate 23-25% per year, less officials denied any credit!
Space policy
Of course, in text 2956/NHNN-CSTT, State Bank requires credit institutions to peel very clear to avoid lettuce as above. Specifically, in the Table 2 (investment, real estate business) of this document, the credit institutions have seven statistical categories, including construction of industrial parks, export processing zones, urban areas; text rooms, buildings for lease, build, repair and purchase of dwelling houses associated with leasing is that the loan repayment by the customer income is not wages, construction, home repair and buy houses for sale and lease, purchase land use rights .... But according to economist Tran Du Lich, the tightening of credit production, including real estate credit is essential and the banks' paste affair "with the region to be very wary .
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