According to the State Bank of Vietnam, outstanding real estate loans of commercial banks now account for only 9% of total outstanding loans of the whole banking system. The Bank for Investment and Development of Vietnam (BIDV) has outstanding real estate loans of 5.87% of its total outstanding loans, while Sacombank 3%.
However, some banks have announced they have resumed real estate credit as capital has become more profuse. VP Bank, for example, has announced VND2tril capital has been set aside for funding real estate projects, while Military Bank said that the bank’s management board has approved a plan to provide real estate credit at up to 10% of its total credit limit. Prior to that, Sacombank and some other banks launched products on funding house purchase plans with payment by installments.
