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Vietnam: Credit Rises 8.54%: Central Bank

  • Aug 14, 2016

Vietnam: Credit Rises 8.54%: Central Bank

Sunday, 14 August 2016 – Credit rose 8.54% by July 29 against late last year while mobilised capital surged 9.94%, the State Bank of Vietnam (SBV) reported August 11.

At a meeting held in Hanoi on August 11 to review banking operations in H1 and outline plans for the rest months of the year, SBV Deputy Governor Nguyen Thi Hong said that liquidity of the banking system is good and becomes abundant while the inter-bank interest rate reduces as compared to the end of last year.

According to Hong, since the beginning of this year, keeping lending interest rate steady in 2016 has been considered a tough task for the central bank due to a forecast of rising inflation. However, the central bank will try to keep the rate stable in the late months of the year in a move to support business and production.

To meet the target, the central bank has so far taken measures to stabilise the deposit interest rates, which would help commercial banks cut the lending rate. Read More?