HANOI (XINHUA) – The State Bank of Vietnam (SBV) has set a credit growth target of 15 per cent for the domestic banking system in 2024, Vietnam News Agency reported yesterday.
The target can be adjusted depending on developments of the real situation, the central bank said in a document sent to credit institutions.
The bank asked credit institutions to provide loans safely and in line with their risk management capacity, liquidity and ability to mobilise capital, while preventing bad debts from rising. The bank said earlier that it would improve credit quality and prioritise capital for spearhead sectors that drive economic growth in 2024.
According to the central bank, total credit of Vietnam’s economy grew 13.5 per cent to reach nearly USD558.3 billion as of 2023.
