SBV Deputy Governor Nguyen Thi Hong speaks at the press meeting on Dec. 24. (Photo: SBV)
The bad debt ratio of the whole banking system in Vietnam slid to 2.72% at the end of November 2015, from 2.91% in October and 2.93% in September, the State Bank of Vietnam (SBV), the country’s central bank, said at a press meeting on Thursday morning.
The bank added that credit growth in the system reached 17.17% as of December 21, above an average rate of 12.6% in the 2011-2014 period and the initial target of 13%-15% set for this year.
Lending by banks in the country could grow 18% by the end of this year, the SBV predicted.
With the country’s GDP targeted to expanded 6.7% and inflation at 5% next year, credit growth is projected at 18%-20% consequently, said SBV Deputy Governor Nguyen Thi Hong.