HSBC expects rising housing prices to constrain the SBV’s ability to deliver any further rate cuts.
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).
Fitch Ratings has upgraded Vietnam’s rating from "BB-" to "BB" proving the nation’s improvement on economic growth, foreign exchange reserves and government debt.
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 gross domestic product (GDP) in 2017 is estimated to increase to 6.81 per cent, exceeding the target of 6.7 per cent and the highest rate since 2011, according to General Statistics Office of Vietnam (GSO).
As usual, the banking system intensifies the capital injection in last three months of the year to reach its credit growth target.
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.
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.
Vietnam's medium-term outlook remains positive, with GDP growth expected to increase slightly to 6.3% in 2017 - The World Bank (WB) said in a report on Vietnam's economic development published on July 13.
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.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
Office: 7th Floor, HCMCC Tower, 249A Thuy Khue street, Tay Ho district, Hanoi
Hotline.: 08887 08817