The State Bank of Vietnam (SBV) on December 24 targeted credit growth between 18% and 20% for next year, with possible adjustments depending on the actual situation.
Credit this year could reach roughly 18%, meeting the capital demands of the economy, deputy director of the State Bank of Vietnam's Monetary Policy Department Nguyen Duc Long said.
A series of banks are facing towering bad debt provisions that ate up their profits for the first three quarters of the year, which had been promisingly reported.
The National Assembly approved a resolution on the socio-economic development plan for 2016, which sets the goal of a 6.7% increase in gross domestic product (GDP), on November 10.
Banks and credit institutions are confident about an average credit balance growth of 17.6% in 2015 for the whole system, stimulated by the positive outlook of the economy’s demand for financial services.
Some 550 villas and row houses are set to be available in Hanoi’s real estate market by the end of this year, according to statistics from Savills Vietnam, the largest property company in the country.
Lending by banks has been accelerating, growing at 18.2% in the year-to-date compared to the same period last year, according to HSBC's monthly report Vietnam at a Glance released on October 2.
Credit in Hanoi has surged sharply, roughly doubling the average rate of the entire banking system.
Credit growth by August 10 reached 8.3% compared to December last year, much higher than during the same period last year, said director of the State Bank of Vietnam's Credit Department, Dang Tien Dong.
Some economic experts and officials have expressed concerns over the possible return of a real estate bubble in the coming years. Nguyen Van Duc, vice chairman of the HCMC Real Estate Association, granted an exclusive interview to the Saigon Times Daily.
Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh has set a new target to bring down non-performing loans (NPLs) to less than 3% by September.
Vietnam recorded a credit growth rate of 6.09% by June 18 compared to the end of 2014 and 18.98% from the same period last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.
The deposit growth rate is currently slower than that of credit growth; however, savings in banks are still considered a good choice due to low inflation.
Export companies preferred loans in foreign currencies than in the Vietnamese dong due to a stable foreign exchange policy and lower interest expenses.
Credit organisations posted a growth of 10.22% in the first 11 months of 2014, according to the latest statistics released by the State Bank of Vietnam (SBV).
Former Senator Eddie “Kuya Eddie” Ilarde, the first president of the Philippines-Vietnam Friendship Association, returned to Manila from a visit to Hanoi, greatly impressed by what he saw.
(VOV) -Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong on Oct. 6 affirmed that no adjustments have been made in the foreign exchange rate at present despite the price of US dollar is rising during these days.
(VOV) -The Purchasing Managers’ Index (PMI) of Vietnam rose to 51.7 in September from 50.3 on higher new orders, while input prices eased significantly, according to a latest report by the Hong Kong-Shanghai Bank Corporation (HSBC).
The country's total means of payment next year will increase roughly by 16% to 18% against December, according to the State Bank of Vietnam (SBV).
Vietnamese banks are likely to promote lending programmes that hopefully will help them to either unleash idle capital or boost the sluggish credit growth toward the end of the year.