Total assets of financial institutions stand at $817bln

The total assets of financial institutions in Vietnam had reached $817 billion as of September 30, according to the National Financial Supervision Council (NFSC).

Credit institutions account for 93.2 per cent of total assets, insurance companies 4.47 per cent, and stock and fund management companies 2.37 per cent.

At a conference co-held by the NFSC and the Korea International Cooperation Agency (KOICA) in the central highlands’ Lam Dong province on December 1, experts from the former also revealed forecasts on growth in the credit market, which is estimated at 10 per cent this year.

Credit growth in the first nine months was just 7 per cent as a result of the economy’s low capital absorption capacity.