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Jun 25, 2015 / 14:29

Credit reachs the highest growth rate in the past three years

According to the State Bank of Vietnam (SBV), Vietnam`s credit growth rate increased by 6.09 % as of June 15 compared to the end of 2014 and nearly 19% from the same period last year. Vietnam recorded the highest credit growth rate in the past three years.

Banks offered a substantial amount of credit to agriculture and rural development with outstanding loans by June 30 increasing by 7.71 % from December 31 last year. 
Credit growth was also seen by the end of March in the 4 other prioritised fields, including export (3.9%), small - and medium-sized enterprises (1.88%), prioritised industries (0.2%), and businesses applying hi-tech (24.02%).

 
Photo for illustration
Photo for illustration
Interest rates for over-six-month deposits are still stable, overall deposit and lending interest rates were cut by 0.2-0.5% and 0.2-0.3% a year, respectively. 
Deputy Governor of SBV Nguyen Thi Hong reiterated at the press conference on June 23 that the SBV will keep the fluctuations of the VND/USD exchange rate below 2% in 2015, as set in its policy for the year, though the rate has already been adjusted by 1% twice this year.