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Banking & Finance

Credit grows 10.23%

Released at: 10:32, 12/09/2015

Credit grows 10.23%

Year-to-date figure the highest since 2011.

by Minh Tien

Mr. Nguyen Tien Dong, Head of the State Bank of Vietnam’s Credit Department, announced that credit had grown 10.23 per cent from the beginning of the year to August 31, double the rate in the same period of 2014.

State Bank figures previously put credit growth at 9.54 per cent as at August 25, meaning it grew 0.7 per cent in the last week of August. The year-to-date result is the highest since 2011.

Earlier this year the central bank set an annual target of credit growth ranging from 13 to 15 per cent, but with the current growth many expect the target will be easily reached.

The latest market report from the Ho Chi Minh City Securities Company (HSC) quoted Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong as saying that it may increase the target from 15 per cent to 17 per cent.

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