Economic difficulties are on the shoulders of the banking industry as it has to stabilise the macro-economy, control inflation, and support economic growth and businesses, experts have said.
Drastic measures are needed for Ho Chi Minh City – the country’s largest economic hub - to address a series of problems in a bid to speed up recovery, experts have said.
Fitch Solutions Country Risk and Industry Research (Fitch Solutions) has forecast that credit growth in Malaysia will ease slightly to 4.3% this year from 4.5% in 2022 due to a weaker economic outlook and higher borrowing costs.
Credit growth in the first months of this year slowed significantly due to high interest rates and firms’ poor health, raising concerns about rising bad debts.
The State Bank of Vietnam (SBV) has recently granted the first credit growth quotas in 2023 to a number of banks, with a majority of them receiving lower rates than last year.
The State Bank of Vietnam has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.
The State Bank of Vietnam (SBV) has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.
The State Bank of Vietnam’s (SBV) Ho Chi Minh City branch will continue to prioritise credit for production and business, especially in priority sectors, to boost economic recovery.
The State Bank of Vietnam (SBV) has never issued any documents or statements ordering credit for real estate be tightened, Deputy Governor Dao Minh Tu said on February 8.
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.
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).
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 from the World Bank (WB) suggested that Vietnamese monetary authorities consider further flexibility in the exchange rate, including a higher pace of depreciation.
Credit of the banking system by the end of October this year rose by 11.5% compared to the end of 2021, Bao Viet Securities Company (BVSC) said, citing data from the State Bank of Vietnam (SBV).
The State Bank of Vietnam has raised caps on credit growth for some commercial banks so far this year, helping businesses obtain easier access to capital as they are putting forth post-pandemic recovery.
Green bonds are an innovative tool for businesses to mobilise financing from the private sector such as banks, financial institutions, and especially foreign capital.
VNDirect Securities Corporation estimates that about 83.5 trillion VND (3.5 billion USD) will be added to the economy after some banks continue to adjust their credit growth limits for this year.
Businesses have faced difficulties in access to capital and commercial banks want to be able to lend freely to meet market demand. However, experts said the imposition of the credit growth cap is still necessary to keep the country’s macro economy stable in the short run.
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