The banking sector, which is always considered the most lucrative business field, has experienced a very bad year 2012.
Credit growth rate lowest in the last 20 years
The outstanding loans of the whole banking system had increased by 4.85 percent only by the end of the first 11 months of the year. The credit growth rate for the whole year 2012 is expected to be 5-5.5 percent. More…
A lot of commercial banks are still intensively seeking capital by offering high deposit interest rates.
The documents released by the Ministry of Planning and Investment at the press conference in early September showed the continuous disbursement of the banks in the first eight months of the year. By August 20, the total money supply (M2) has reportedly increased by 10.3 percent in comparison with December 31, 2011. While the outstanding loans had increased by 1.4 percent, the deposits at banks had increased more sharply by 11.23 percent. More…
People are more confident about building their savings in Lao kip that the value of the national currency has been stable.
People are more confident about building their savings in Lao kip now that the value of the national currency has been stable for the past few years.
According to an annual report from the Bank of the Lao People’s Democratic Republic, the value of kip deposits at commercial banks in Laos reached 9,869 billion kip (US$1.23 billion) in December 2011, accounting for about 45 per cent of total deposits. The rest of the money deposited was in foreign currencies. More…
Sri Lankan Rupee
Loans to business from Sri Lanka’s commercial banks rose 34.5 percent to 2,005.9 billion rupees in the year to December 2011, with credit to the state hitting a new monthly high, official data showed.
Credit to business in December remained at a high 60.2 billion rupees in December 2011, slightly lower than the 63.2 billion rupees in November but state credit hit a new high of 52.9 billion rupees up from 32.1 billion rupees a month earlier. More…
