Credit growth reached about 13% this year as of December 27, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu told a press conference in Hanoi on tasks for the banking sector next year.

Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022.

VOV.VN - This year has seen the State Bank of Vietnam (SBV) operate a flexible monetary policy aimed at controlling inflation, supporting further economic recovery, adapting to market fluctuations, and ensuring the safety of the banking system.

Both foreign and domestic fintech firms are promoting connections with commercial banks to lend unsecured loans to individuals, and small and micro enterprises as demand for consumer and business loans at the end of the year is rising.

Vietnam's real estate market is unlikely to boom next year, according to experts.

The State Bank of Vietnam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tet).

About VND9 trillion (US$382 million) of public investment capital from foreign sources has been disbursed in the first 11 months this year, accounting for only 26% of the allocated capital.

The State Bank of Vietnam (SBV)’s recent decision to increase credit room by 1.5-2% for credit institutions aims to increase resources and the supply of credit to businesses and key sectors of the economy, SBV Deputy Governor Dao Minh Tu has said.

The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14% limit on December 5.

Experts, and representatives of international organisations, and investment funds have shown their belief in the potential for sustainable growth in Vietnam in the coming time.