Credit growth hits 6.82 percent in the first six months

This statistics marked the second consecutive year the country posted positive growth. This year, the SBV targets a 18-20 percent credit growth.
The report of the Credit Department also showed that lending in Vietnamese dong rose 8.11 percent from late 2015 and 22.95 percent from the same period last year, accounting for 90.8 percent of the economy’s total credit. Meanwhile, lending in foreign currencies was down 4.64 percent against late 2015.
Mr.Nguyen Tien Dong, Head of the Credit Department, said loans were poured into five priority areas, which are agriculture, aquaculture, support industry, exports, and hi-tech production.

In the first half of this year, the banking sector offered loans worth more than 1,029 trillion VND (46.7 billion USD) to small and medium-sized enterprises, up 2.62 percent, and making up 20.1 percent of the total outstanding credit. As of late June, outstanding loans for agriculture and rural areas reached 886 trillion VND (40.2 billion USD), marking a 4.98 percent increase and equivalent to 18 percent of the total.

Loans for exports, industry and hi-tech firms hit 183.4 trillion VND (8.33 billion USD), 121.5 trillion VND (5.5 billion USD) and 28.6 trillion VND (1.3 billion USD), respectively.