ANTD.VN - On July 10, the State Bank adjusted the credit growth target for 2023 for credit institutions to a system-wide level of about 14%.
The adjustment of credit growth targets for credit institutions took place in the context of economic growth in the first 6 months of the year being lower than the proposed scenario, and economic capital sources facing difficulties. This move aims to provide more credit capital to promptly meet the needs of the economy, but not be subjective with inflation risks.
The adjustment of credit growth targets for credit institutions is carried out by the State Bank based on the credit institutions' proposals, operational situation, financial capacity, governance and ability to expand healthy credit of each credit institution, ensuring liquidity and operational safety of the credit institution system.
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State Bank grants 14% credit room to banks |
As of June 30, 2023, the economy's outstanding credit balance reached over VND 12.4 million billion, an increase of 4.73% compared to the end of 2022.
Along with allocating the entire credit room, the State Bank also requires credit institutions to continue to seriously and effectively implement Directive 01/CT-NHNN dated January 17, 2023 of the Governor of the State Bank on key tasks of the banking sector in 2023; focus on strongly and drastically implementing solutions to promote safe and effective credit growth, improve credit quality, 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, cutting down administrative procedures, simplifying and shortening lending processes and procedures, ensuring compliance with legal regulations to facilitate customers' access to bank credit, thereby actively supporting businesses and people to restore production and business, ensuring the safe operations of credit institutions...
“In the coming time, the State Bank will continue to closely follow domestic and international market developments, ready to support liquidity to create conditions for credit institutions to provide credit to the economy, and at the same time monitor and review the credit growth situation of the entire system in the last months of the year to have appropriate management solutions,” said the State Bank.
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