Credit Growth

Experts call for the central bank to expand the credit growth target to 15-16% this year.

Credit growth in 2021 is estimated at around 12-13%, roughly the rate recorded in the same period of last year.

The central bank would continue to keep the policy rates unchanged until the end of the year.

During the January-September period, banks and credit institutions in Hanoi have restructured the payment schedule of debt worth VND75 trillion ($3.3 billion) for 57,700 customers.

Credit demand has been on the rise in the first half of the year and is set to maintain its growth momentum for the second six months.

Over 85% of credit institutions and banks projected to be profitable in 2021.

The credit growth target of 12% for this year remains feasible, and could even be higher in a favorable condition.

The housing market may run away from economic fundamentals.

Credit pumping into real estate takes a large share in the total outstanding loans, following by corporate bonds and stock market.

The central bank would continue to monitor the economic performance to adjust monetary policy accordingly, with the aim of keeping the inflation rate around 4% for this year.