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Deadline for banks to lower credit growth stays unchanged
The governor of the State Bank of Viet Nam, Nguyen Van Giau, has reiterated that commercial banks must lower their rate of credit growth in non-production by 22 per cent by the end of this month.
In an interview on Viet Nam Television on Tuesday night, Giau said 20 joint stock commercial banks currently had credit growth in non-production of more than 22 per cent.
He added that some banks' credit growth included loans in real estate, securities and consumption that were far beyond 22 per cent.
Two banks he said had credit growth of 50 per cent and 52 per cent. He added that the SBV would take action against any bank that did not abide by its instruction.
The SBV in March ordered credit organisations, foreign bank branches in Viet Nam, inspection agencies, banking supervision agencies and SBV branches to lower credit growth.
Furthermore, Giau told credit institutions to outline specific plans to ensure a credit growth rate of less than 20 per cent and 22 per cent in non-production this year.
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