Vietnam bank lending up 7.26% as of Nov. 17 from end-2019

The bank lending growth was lower than the whole-year target of 8-10 percent placed by the central bank earlier.   

As of November 17, credit outstanding of the economy reached nearly VND8,790 trillion ($379 billion), an increase of 7.26 percent compared to the end of 2019. The figure was 10.28 percent in the same period in 2019.

Previously, the General Statistics Office reported credit growth in 9 months reached 5.12 percent. In less than 2 months, bank credit growth has reached 2.14 percent, showing a positive signal in the last months of 2020.

With the achievements, the target for credit growth in 2020 from 8-10 percent is feasible. With the projected credit growth, the central bank is expected to inject VND150-320 trillion into the economy in fourth quarter.

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