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Vietnam central bank reports 4.81% credit growth as of September 16 versus end-2019

Tuesday, September 22, 2020, 10:01 GMT+7
Vietnam central bank reports 4.81% credit growth as of September 16 versus end-2019
The State Bank of Vietnam building is seen in Hanoi, Vietnam September 8, 2017. Photo: Reuters

HANOI -- Vietnamese banks’ total lending rose 4.81% as of Sept. 16 from the end of last year, the State Bank of Vietnam said on Tuesday.

Vietnam’s economic growth traditionally relies heavily on increased credit, though authorities have been trying to reduce this reliance.

The central bank has previously said it was targeting 11%-14% credit growth for this year.

The country’s total money supply, M2, rose 7.58% as of Sept. 15 from end-2019, the central bank said.

Reuters

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