Credit growth has reached 12.97% as of December 24 and is likely to hit 14% this year as credit expands very strongly towards the end of the year despite the pandemic, the State Bank of Vietnam said.

Credit balance for 23 policy credit programs of the Bank for Social Policy by the end of November reached nearly 11 million USD, up 8.4% over last year, with more than 6.4 million poor and near-poor households and other policy beneficiaries given loans.

Addressing a conference in Hanoi on Wednesday to discuss the implementation of the banking sector’s tasks in 2022, Deputy Governor Dao Minh Tu said: “Based on the performance in 2021, we’ll continue flexibly governing monetary policy tools, create maximum conditions for businesses, and support liquidity for the economy.”

Tu added, “We’ll strictly follow the Government’s economic recovery program to manage the monetary policy, ensure the goal of controlling inflation, stabilize the macroeconomy, stabilize the currency value and exchange rate, and effectively manage the foreign currency and gold market.”

At the conference, Deputy Prime Minister Le Minh Khai asked the banking sector to further reduce lending interest rates, support priority areas, develop consumer credit, and reduce black credit.

Source: VOV5