Central bank sets credit growth target of 15% in 2024


Hanoi: The State Bank of Vietnam (SBV) has set a credit growth target of 15% for the domestic banking system in 2024.

The target can be adjusted depending on developments of the real situation, the central bank said in a document sent to credit institutions.

The SBV requested credit institutions to provide loans in a safe manner and in line with their risk management capacity, liquidity and ability to mobilise capital, while preventing bad debts from rising.

They are also banned from providing preferential interest rate loans for executives and their relatives, businesses within their ecosystems and ‘backyard’ companies.

The central bank said that it will closely monitor actual developments to manage credit growth in a proactive, flexible, prompt and effective manner. It will also adjust the credit growth target and proactively revise credit growth quotas given to each credit institution./.

Source: Vietnam News Agency

  • malaysiang

    Related Posts

    MIDF Sees Continued Foreign Inflow Boosting Ringgit And Bond Market

    KUALA LUMPUR, MIDF Research expects that foreign inflows into the domestic bond market will persist, leading to further appreciation of the Malaysian ringgit.

    In a research note today, the firm highlighted that fundamental growth and stable price de…

    Volkswagen’s Tech Showcase Unlocks Global Opportunities For Local Auto Suppliers

    KUALA LUMPUR, The Supplier Technology Showcase and Business Matching Program for Volkswagen’s supply chain showcased the potential of local suppliers to join Volkswagen’s extensive global supply network.

    Organised by Malaysia Automotive, Robotics an…