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| Banks lend over USD 18.88 billion to economic entities in June.__Photo: VNA |
Banks lent more than VND 480 trillion (USD 18.88 billion) to economic entities in June, demonstrating the sector’s efforts in concretizing the Government’s credit goal of 5-6 percent to the end of Q2.
According to statistics from the State Bank of Vietnam (SBV), outstanding loans as of the end of June neared VND 14.4 quadrillion, up 6 percent against the beginning of 2024.
The central bank's Deputy Governor Dao Minh Tu affirmed that the sector has rolled out various programs and initiatives to prop up the economy such as the VND-120-trillion credit package for affordable housing, and the VND-30-trillion one for the forestry and fishery sector, helping encourage and create motives for enterprises to develop in priority domains.
Credit growth has been on the upward trend, meaning the Government’s tax and fee cut policies and commercial banks’ concessional loans have shown efficacy, he said.
Various economic organizations expect demand for credit will increase in the second half of the year as interest rates are maintained at a low level, contributing to bolstering the economic recovery.
Vietcombank Securities Company has forecast credit for the whole year to grow at 12-13 percent, with motives of the expansion being robust production activities, export, as well as the acceleration of public investment, particularly in key infrastructure projects.
Meanwhile, MB Securities Joint Stock Company has predicted the credit growth will reach 14 percent this year, with high demand to be recorded in consumer finance, credit card and car loans thanks to low interest rates and retail sales recovery.__(VNA/VLLF)
