Banking sector aims to 15% credit growth

The State Bank of Vietnam has recently issued Document No. 10167/NHNN-CSTT to credit institutions regarding the credit growth plan for 2024. According to this, the central bank aims for a credit growth of around 15% in 2024 and will flexibly adjust it to align with the developments and actual situation.

Commercial banks in Binh Duong are making efforts to provide capital to the economy, ensuring credit growth targets

To create favorable conditions for credit institutions to supply credit capital to meet the economic growth demand, the State Bank of Vietnam has set a credit growth target of 15% and requires credit institutions to control the growth. The State Bank of Vietnam requires credit institutions to strictly, fully, and timely implement the government's directives. The relevant functional departments of credit institutions are responsible for regularly reviewing to ensure compliance with government directives and timely provision of sufficient credit capital to meet the needs of businesses and individuals. In addition, credit growth should be safe and in line with the bank's capacity.

As of the end of 2023, the overall credit growth in the industry reached 12.26%, falling short of the annual target of 14%-15%.

Reported by Thanh Hong – Translated by Vi Bao