HO CHI MINH CITY – The State Bank of Vietnam (SBV) is targeting a credit growth rate of 12% this year, similar to its growth of 12.13% in 2020, said its deputy governor, Dao Minh Tu.
However, this is not a fixed figure, with the central bank to make adjustments if necessary, the Vietnam News Agency quoted Tu as saying yesterday.
When the Covid-19 threat is under control, and the economy requires a quick recovery, leading to increased credit demand, he said, SBV will expand credit in support.
If there are signs that tighter controls are needed to curb inflation, credit growth will be slashed, he added.
Tu said providing support for businesses in the post-pandemic period is one of the banking sector’s major responsibilities in 2021.
SBV is submitting a proposal to the prime minister on adjustments to regulations on foreign credit institutions and bank branches’ debt restructuring, interest and fee reduction, and exemption and debt classification maintenance to support customers affected by the pandemic, said the report. – Bernama, January 8, 2021
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