Credit growth rate of the whole banking system currently exceeds 10% and is expected to arrive at 12-13% at year end, said Nguyen Van Binh, Governor of the State Bank of Vietnam in an interview posted on the central bank’s website on Nov 21.
If all credit-equivalent investments are taken into account, credit growth of the entire banking sector as of Dec 31 may reach 15%, Binh further added.
The central bank will closely govern local credit institutions in order to achieve 2012 credit and GDP growth rates of 15-17% and 6-6.5%, respectively, Binh said.
The SBV also emphasized to prioritize capital for providing loans in such areas as agriculture production, rural development, export, support industries and supporting small and medium enterprises.
The central bank vowed to: 1) provide more specific regulations on lending to non-production sectors; 2) reconsider capital demand for home purchase of medium and low-income residents and fund needs to build houses for workers at industrial zones, etc.