Eight-month credit growth reaches 10.23%

Credit growth from early this year to August 31 increased 10.23% compared to the end of 2014, a double increase in comparison with the growth rate of the same period last year, according to Director of the State Bank of Vietnam's Credit Department, Dang Tien Dong.

Photo for Illustration (Photo: Thai Thien).

Earlier on August 25, the State Bank announced that credit growth posted at 9.54%, which meant that within only a week, credit growth had risen by 0.7%. Lending activities of credit institutions are currently seeing the fastest growth rate since 2011.

 

At the beginning of this year, the State Bank set a target of reaching a credit growth of 13-15% for the entire year. At this fast-paced rate, many argue that it will be easy to exceed the target.

 

In its latest market report, the Ho Chi Minh City Securities Corporation quoted a statement made by Deputy Governor of the State Bank Nguyen Thi Hong, stating that the State Bank may raise the credit growth target this year to 17% from 15%.

 

(Source: nhandan.org.vn)