Banks can lend additional VND 470 trillion

This is the estimated number of banking experts after the State Bank of Vietnam (SBV) decided to increase its credit target by 1.5%-2% on December 5.

Accordingly, this figure means that the credit scale of the banking system by the end of 2022 is expected to reach about VND 12,063 million billion - VND 12,115 million billion, about VND 156,000 - VND 209,000 billion higher than the old target. Thus, the credit room is increased by about VND 200,000 trillion, helping credit institutions to ensure the ability to pay for businesses and people, especially during the Tet (Lunar New Year) holiday. According to the latest data of the SBV, credit growth by the end of October reached 11.5%, equivalent to a credit scale of more than VND 11.645 million billion. From now until the end of the year, banks can also lend additional VND418 - VND470 trillion.

Reported by Thanh Hong-Translated by Kim Tin