Credit growth in the first half of 2019 was slightly higher than the 6.14 percent growth recorded in the first half of 2018, according to the State Bank of Vietnam (SBV).
Credit growth in 2017 reaches 16.96 per cent; meanwhile, the total means of payment and capital mobilization of credit institutions increase by over 14 per cent, according to the General Statistics Office of Vietnam (GSO).
The government has just required an additional 0.5 per cent decrease in interest rates of loans to support enterprises as well as stabilize credit growth.
As usual, the banking system intensifies the capital injection in last three months of the year to reach its credit growth target.
This is the result of the survey on business trends of credit institutions recently conducted by the State Bank of Vietnam.
According to the General Statistics Office of Vietnam (GSO), the credit growth of the economy reached 11 per cent, compared to the goal of over 20 per cent increase.
Promoting credit growth and reducing the interest rate by 0.5 per cent are the measures to reach the economic growth target of 6.7 per cent.
Prime Minister Nguyen Xuan Phuc (PM) has urged the State Bank to continue managing the monetary and credit policy towards a reduction of lending interest rate and increase of outstanding credit balance up to 20 per cent or more.
Total outstanding loans to May 25 grew 6.53% year-on-year, much higher than the 5% and 4.5% in the same period of 2016 and 2015, respectively, according to the central bank.
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Figure much higher than results for same periods of 2015 and 2016.
