The National Financial Supervisory Commission (NFSC) forecast Vietnam’s credit to grow 17- 18 percent in 2018. (Photo: VNA)
Hanoi (VNA) – The National Financial Supervisory Commission (NFSC)forecast Vietnam’s credit to grow 17- 18 percent in 2018, similar to the growthlast year.
The commission said credit growth slowed down in January due to seasonalfactors such as Tet holiday being around the corner. Deposit growth slid in thefirst month of 2018; however, it picked up from February.
Credit is predicted to accelerate from the end of the first quarter.
Credit tends to increase in short-term credits, shifting focus on consumercredit. In the first quarter, consumer credit continued its momentum from 2017and increased in January due to high demand ahead of Tet holiday.
Credit institutions have aimed for 17.71 percent in the credit growth ofVietnamese Dong and 7.39 percent of foreign currencies.-VNA
Many commercial banks have asked the State Bank of Vietnam (SBV) to expand the credit growth limit as they have almost used up the assigned quota for the whole year.
Maximum credit growth this year is forecast to be just 18-19 percent, meaning that the banking system will not use up the increased room of 21 percent.
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The National Financial Supervisory Commission (NFSC) forecast Vietnam’s credit to grow 17- 18 percent in 2018. (Photo: VNA) 
