ANTD.VN - The State Bank has just issued a document allocating additional credit targets to banks whose outstanding credit balances have reached 80% of the previously announced credit targets.
Previously, in the Directive at the beginning of the year, the State Bank of Vietnam (SBV) determined the credit growth rate in 2023 at about 14-15% and flexibly adjusted in accordance with developments and actual situations, creating favorable conditions for credit institutions to provide credit capital for the economy.
By July 2023, the State Bank of Vietnam had allocated credit limits to the entire system of credit institutions and foreign bank branches (CIs) with a total growth rate of 14.5%.
However, according to the State Bank, the past 11 months have shown that economic growth is still facing difficulties, the economy's capital absorption and credit demand are still weak, so by November 22, 2023, the credit growth of the whole system only reached 8.21%, lower than the target set at the beginning of the year.
Credit growth of the credit institution system is uneven, some credit institutions have quite high growth, some credit institutions have low growth, even negative growth.
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Many banks are allocated additional credit growth targets. |
In order to promptly and flexibly manage and meet the requirements of continuing to promote credit growth to serve capital needs for the economic growth recovery process under the direction of the Government and the Prime Minister, the State Bank has proactively and flexibly adjusted credit growth targets in the entire system from credit institutions that have not fully utilized their credit growth targets to credit institutions that need to continue to expand credit growth.
At the same time, the State Bank will continue to manage credit growth in 2023 so that it does not exceed the set target while still ensuring growth room to meet the economy's credit capital needs and the safety of the credit institution system.
Therefore, on November 29, 2023, the State Bank sent a document to credit institutions informing them of the additional growth rate.
Accordingly, credit institutions with outstanding credit balances reaching 80% of the announced credit target will be proactively supplemented with additional credit limits based on the 2022 ranking, while giving priority to credit institutions that focus credit on priority areas of the Government and have lowered lending interest rates to low levels in the recent past.
"The addition of this limit is the initiative of the State Bank, and credit institutions do not need to request or ask for the addition," said the State Bank.
At the same time, the State Bank requires credit institutions to provide safe and healthy credit, support businesses, ensure credit growth in line with risk management capacity, capital mobilization ability, as well as balance sufficient capital sources for credit provision, continue to maintain stable mobilization interest rates and actively reduce lending interest rates, direct credit to production and business sectors, priority sectors and growth drivers according to the Government's policy, promptly meet the capital needs of people and businesses.
Strengthening the review and reduction of administrative procedures, simplifying lending processes and procedures, both ensuring compliance with regulations and creating favorable conditions for customers to access bank credit, supporting businesses and people to restore production and business.
It is known that this afternoon, Deputy Prime Minister Le Minh Khai will chair a meeting with the State Bank, leaders of the Ministry of Finance, Ministry of Planning and Investment, Ministry of Justice, Chairmen of Boards of Directors of several banks... on credit growth management in the last months of the year.
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