As of September 24, credit growth had expanded 8.64 per cent compared to the end of 2018, the lowest increase in recent years. — VNA/VNS Photo Viet Nam’s credit growth is slowing and can fall behind the central bank’s target of 14 per cent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year. According to the State Bank of Viet Nam (SBV), as of September 24, credit growth had expanded 8.64 per cent compared to the end of 2018. The rate was the lowest increase in recent years, even lower than the 9.52 per cent rise during the same period in 2018. In the SBV’s September survey on business trends at credit institutions, many credit institutions also forecast that 2019 credit growth would increase by 13.61 per cent this year, lower than the central bank’s 14 per cent target. Growth has been slow in recent months. At the end of June, credit had increased by 7.33 per cent. The figure only inched up to 7.48 per cent by the end of July, then to 8 per cent at the end of August. This seems to contradict… Read full this story
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