Commercial banks tighten property lending

The State Bank of Vietnam building in Hanoi. - AFP

HANOI: Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Vietnam (SBV)’s policy on controlling credit growth in risky areas.

Sacombank has recently required all its branches and transaction offices to focus loans on a number of production and priority industries such as agriculture, rural development, exports, supporting production, small- and medium-sized enterprises, high-tech application, trade, service and logistics, vietnambiz.vn reported.