Vietnam's 2024 Credit Growth Target Within Reach: Central Bank

Faizan Hashmi Published December 05, 2024 | 06:37 PM

Vietnam's 15 percent credit growth target for 2024 is reachable, the State Bank of Vietnam has predicted, given the 11.12 percent credit growth as of Nov. 22

HANOI, (APP - UrduPoint / Pakistan Point News - 5th Dec, 2024) Vietnam's 15 percent credit growth target for 2024 is reachable, the State Bank of Vietnam has predicted, given the 11.12 percent credit growth as of Nov. 22.

As of November, credit growth for the economy increased by just over 11 percent, while the available credit room for the year is expected to range between 14-15 percent.

This suggests that there is still significant room for credit growth in the final month of the year, said the report.

The continued increase in credit limits indicates that growth is becoming increasingly uneven among banks as not all institutions are able to expand credit.

Vietnam News Agency cited analysts as saying that this move was intended to ensure the system as a whole meets the 15 percent credit growth target for the year.