FILE PHOTO: The State Bank of Vietnam building is seen in Hanoi, Vietnam September 8, 2017. REUTERS/Kham
September 22, 2020
HANOI (Reuters) – Vietnamese banks’ total lending rose 4.81% as of Sept. 16 from the end of last year, the State Bank of Vietnam said on Tuesday.
Vietnam’s economic growth traditionally relies heavily on increased credit, though authorities have been trying to reduce this reliance. The central bank has previously said it was targeting 11%-14% credit growth for this year.
The country’s total money supply, M2, rose 7.58% as of Sept. 15 from end-2019, the central bank said.
(Reporting by Khanh Vu; Editing by Ed Davies)