HANOI, Jan 10 (Reuters) - VietinBank, Vietnam’s second-biggest partly private bank by assets, plans to boost lending this year to achieve annual credit growth of 20 percent, after loans rose an estimated 13-15 percent in 2012, a state-run newspaper reported on Thursday.
The Hanoi-based lender, 20 percent owned by Japan’s Bank of Tokyo-Mitsubishi UFJ, planned to keep bad debts at below 2 percent of total loans this year, the People’s Army newspaper quoted VietinBank Chairman Pham Huy Hung as saying.
Last year, the bank kept its bad debt ratio below 1.5 percent of loans, Hung said at a meeting on Wednesday to work out business targets for 2013.
Bank of Tokyo-Mitsubishi UFJ is a core banking unit of Mitsubishi UFJ Financial Group, Japan’s top lender by assets. (Reporting by Hanoi Newsroom; Editing by Jacqueline Wong)