Credit grows 10.22 percent in 11 months
Credit organisations posted a growth of 10.22 percent in the first 11
months of 2014, according to the latest statistics released by the State
Bank of Vietnam (SBV).
Credit organisations posted a growth of 10.22 percent in the first 11
months of 2014, according to the latest statistics released by the State
Bank of Vietnam (SBV).
The central bank said that November saw the largest expansion of credit. Earlier, by October 24, it grew only 7.85 percent compared to the same period last year.
In some commercial banks, the year-end is a good time for credits to hit targets. The Vietnam Bank for Agriculture and Rural Development (Agribank)’s branch in central Thanh Hoa province said it has fulfilled 95 percent of the set credit growth target of 17.7 percent while its branch in the northern province of Ninh Binh reported its credit growth of 26 percent in the 11-month period, meeting 97 percent of the goal.
With this pace, this year’s credit growth target of 12-14 percent set by the SBV is likely to be reached, experts said.
Earlier, a survey conducted by the central bank’s Monetary Statistics and Forecast Department revealed that up to 90 percent of credit institutions expected their mobilised capital and outstanding credit debt to grow by 4.96 -5.13 percent during the fourth quarter, and by 14.4-14.5 percent for 2014.-VNA
The central bank said that November saw the largest expansion of credit. Earlier, by October 24, it grew only 7.85 percent compared to the same period last year.
In some commercial banks, the year-end is a good time for credits to hit targets. The Vietnam Bank for Agriculture and Rural Development (Agribank)’s branch in central Thanh Hoa province said it has fulfilled 95 percent of the set credit growth target of 17.7 percent while its branch in the northern province of Ninh Binh reported its credit growth of 26 percent in the 11-month period, meeting 97 percent of the goal.
With this pace, this year’s credit growth target of 12-14 percent set by the SBV is likely to be reached, experts said.
Earlier, a survey conducted by the central bank’s Monetary Statistics and Forecast Department revealed that up to 90 percent of credit institutions expected their mobilised capital and outstanding credit debt to grow by 4.96 -5.13 percent during the fourth quarter, and by 14.4-14.5 percent for 2014.-VNA