Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates

Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

Vietnam’s bank credit rose 1.14 pct last month, central bank says   2010-03-05 - Bloomberg


Vietnam’s banking credit rose 1.14 percent in February from a month earlier, raising concerns that the government may fail to achieve its 25 percent loan growth target for the year.

Nguyen Ngoc Bao, director of the monetary policy department at the country’s central bank, provided the monthly credit growth figure in a phone interview Wednesday from Hanoi, without elaborating. Credit grew 1 percent in January.

The government’s target for 2010 is a moderation from last year’s 38 percent growth. Vietnamese lenders are struggling to raise funds and lend to clients because of an interest rate cap by the central bank, said Ho Huu Hanh, head of the State Bank of Vietnam’s Ho Chi Minh City branch.

“Although it was higher than January, credit growth is still very low compared with the full-year target,” he said.

To spur lending, the State Bank of Vietnam on Feb. 26 allowed banks to set their own rates for certain loans to meet demand. Prior to that, the central bank only allowed lenders to extend loans at 150 percent of its key rate.

Other news

VinaCapital sets up JV to manage realty projects   2010-03-05

Vietnam looks to send 12,500 labors to South Korea this year   2010-03-05

Vietnam to reserve 66,000 tons of latex this year   2010-03-05

Vietnam trade figures to aid currency, Citigroup says   2010-03-05

Hoang Anh Gia Lai agrees to sell iron ore to China   2010-03-05

Vietnam fines Panamanian ship for smuggling electronics   2010-03-05

Central bank hints at curbing outlets   2010-03-05

BUSINESS IN BRIEF 5/3   2010-03-05

Vietnam best in region, say Japanese firms   2010-03-05

Banks avoid high expectations for 2010 profits   2010-03-05

VinaCapital sets up JV to manage realty projects   2010-03-05

IBM experts help HCMC become smart city   2010-03-05

BUSINESS IN BRIEF 4/3   2010-03-04

Banks repay bailout funds   2010-03-04