State Bank of Vietnam Reports Loan Growth and Targeted Credit Support
What happened
Phạm Thanh Hà, Deputy Governor of the State Bank of Vietnam, reported that total outstanding loans across the banking system reached VNĐ20.75 quadrillion (US$786 billion) as of September 30. He noted that credit increased 16.69% year-on-year, supporting Vietnam’s high GDP growth target. Nguyễn Xuân Bắc, Deputy Director of the State Bank of Vietnam’s Credit Department, stated that credit capital was channeled into production, business, and priority sectors.
From vietnamnews.vn
Why it matters
The State Bank of Vietnam implemented measures to stabilize the macro-economy and control inflation. The bank directed credit institutions to facilitate access to credit for businesses and the public, especially for large-scale and key projects.
From vietnamnews.vn
Who's involved
- State Bank of VietnamCentral bank managing Vietnam's financial stability and economic growth
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The entities involved
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State Bank of Vietnam
central bank
Related events
- Phạm Đức Ấn serves as the Governor of the State Bank of Vietnam.
- The State Bank of Vietnam monitors state-owned banks like Vietcombank and addresses funding pressures in the banking system.
- The Deputy governor of the State Bank of Vietnam announced a new financial inclusion strategy.
- The State Bank of Vietnam must carry out resolution plans for poor-performing institutions, following direction from the Prime Minister.
- The State Bank of Vietnam implements credit allocation principles as directed by the government.