Chủ đề: credit growth

According to the General Statistics Office (GSO), as of the end of March, credit growth in the entire economy reached 4.03 per cent; much higher than the 1.47 per cent increase recorded in the same period last year. Meanwhile, the State Bank of Vietnam continues to keep operating interest rates unchanged, creating favorable conditions for credit institutions to continue reducing lending rates and support economic recovery.

As of March 18, the short-term interbank interest rate had remained above 2 per cent for seven consecutive weeks, and was double the rate at the end of 2021 and up 5-6 times over the same period last year. According to SSI Securities, the main reason for the high interbank interest rate is the recovery of credit, which has cut into bank liquidity.

As of October 29, credit in the entire economy stood at nearly VND10 quadrillion ($439.53 billion), while VND120 trillion ($5.27 billion) was pumped into the market. Analysts believe that 2021 credit growth may reach 13 per cent.

Vietnam’s banking system boasts abundant finances, allowing for support to be provided to economic recovery, according to the Bao Viet Securities Company (BVSC).