Credit growth stands at nearly 10.5% as of mid-Sept
As of September 16, credit grew 10.47% against the end of 2021 and 17.19% against the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks at the Q3 press conference. (Photo: VNA)
Hanoi (VNA) – As of September 16, credit grew10.47% against the end of 2021 and 17.19% against the same period last year,according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
He revealed the figures at a routine press conference forthe third quarter of 2022 recently held in Hanoi.
The majority of the credit was poured into business andproduction and priority areas in an effort to revive the economy hard hit by the COVID-19 pandemic.
The SBV aims to maintain credit growth at around 14% tosupport the economic recovery but it will not lower guard againstinflationary risks, Tu said, adding that the central bank has requested lendersto give priority to borrowers in business and production, and limit the creditinto high-risk sectors, providing a sustainable engine for growth.
Tu held that the bank will continue keeping a close watch onthe developments of both domestic and global markets; and flexibly butcautiously adopting monetary policies alongside fiscal and macro-economic onesto keep inflation under control and stabilise the economy.
Last week, the central bank revised regulatory interestrates up by 1%, the SBV Deputy Governor said, adding it plans to campaign lenders tostablise interest rates and consider lowering those applicable to loans inpriority areas./.
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Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks at the Q3 press conference. (Photo: VNA)
