Credit growth at 3.79% compared to end of 2023

Thursday, 20/06/2024 10:56
The State Bank of Vietnam (SBV) organized an online conference to promote credit growth on June 19.
Governor of the SBV Nguyen Thi Hong spoke at the conference. (Photo: 

Governor of the SBV Nguyen Thi Hong affirmed that the banking industry is boosting solutions to promote credit growth, increase access to credit capital for people and businesses, and promptly meet the capital demand of the economy.

The SBV has issued 8 documents throughout the system to provide guidance on credit, perfect mechanisms and policies, and direct and manage credit activities, interest rates, disbursement of credit programs and policies.

In particular, the bank is proposing to amend the 120 trillion VND social housing program in a direction of more preferences, strengthen communication, connection, remove difficulties, create conditions for banks to provide credit, as well as creating favorable conditions for people and businesses to access credit.

According to statistics, by June 14, credit grew by 3.79% compared to the end of 2023; credit growth rate has gradually improved over the months, the credit sales that credit institutions have provided to the economy in the first half of 2024 are higher than the same period of three years ago.

According to SBV leaders, along with improving the business and investment climate, coordinating to resolve and remove difficulties for businesses and people, until the end of the year, credit growth is expected to increase.

The SBV continues to operate monetary policy proactively, flexibly, promptly, effectively and synchronously, harmoniously and closely coordinating with fiscal policy and other macroeconomic policies, contributing to boosting economic growth according to the goals set in Resolution 01/NQ-CP of the Government.

The bank urgently promulgates guidance documents for the Law on Credit Institutions 2024 to ensure effective implementation from July 1 and continues to review to amend and supplement a number of legal documents to remove difficulties for the economy and increase access to bank credit./.