Expanding investments to drive economic growth is a priority in achieving the target of 15% set for this year, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

The State Bank of Vietnam (SBV) is proposing the government options to remove difficulties that have arisen during the implementation of the 120 trillion VND (over 4.75 billion USD) credit package for social housing, its Deputy Governor Dao Minh Tu has said.

A total of 2.75 quadrillion VND (41 billion USD) went into the property market in 2023, according to the State Bank of Vietnam (SBV), an increase of 6.75% in comparison to last year.

Singapore-headquartered United Overseas Bank (UOB) has maintained its growth forecast for Vietnam at 6% this year

Total loans outstanding as of November 30 at credit institutions in Ho Chi Minh City were worth over 3.4 quadrillion VND (140.15 billion USD), a 1.3% increase from the previous month, according to the central bank.

In the context of a vibrant market and increased liquidity, most securities businesses report flourishing earnings results in the third quarter.

Many banks have so far not only closed their doors to real estate development borrowers but also restricted loans to home buyers.

Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.

Based on optimism about the prospect of economic recovery, many banks are aiming to achieve growth of 20-30% this year, relying mainly on retail, personal and real estate lending.

The State Bank of Vietnam (SBV) has requested local credit institutions and foreign banks’ restrict lending concentration for real estate and construction and consumption sectors, and Build-Operate-Transfer (BOT) projects.

The State Bank of Vietnam (SBV) has approved the extension of credit growth limits for many commercial banks to support the country’s economic growth.

Credit growth rate in the first eight months of 2017 has been estimated at 11.5 percent compared to the end of 2016, the National Financial Supervisory Commission (NFSC) reported.

Lending of the banking sector as of November 22 expanded by around 14 percent against December last year, State Bank of Vietnam Deputy Governor Dao Minh Tu reported.

The State Bank of Vietnam announced on September 7 that credit rose 9.09 percent from the end of 2015 as of August 23, most of them poured into production and priority fields set by the government.

The State Bank of Vietnam has directed its supervisors and credit institutions to enhance control on lending to borrowers with large outstanding loans.

The flexible implementation of monetary policy from the State Bank of Vietnam (SBV) contributed to stabilising the financial market from the beginning of this year.

Deputy Prime Minister Vuong Dinh Hue asked the VBSP to increase lending under poverty alleviation programmes such as credit for the poor, labour export schemes and economic projects.

Lending by January 20, 2016 declined 0.21 percent against the end of last year, according to a report released by State Bank of Vietnam (SBV) on February 2.

The Vietnam Bank for Social Policies (VBSP) has reported its total outstanding debt in 2015 at nearly 143 trillion VND (6.4 billion USD), up more than 10 percent compared to 2014.

The People’s Court of Ho Chi Minh City on December 16 opened a trial for violators of regulations on lending in credit organisations’ activity and fraudulence.