Stronger credit growth seen in Q4 Dinh Duy By Dinh Duy – The Saigon Times Daily A customer (L) transacts with Vietnam International Bank. ANZ Bank expects Vietnam’s credit growth rate to accelerate in the fourth quarter – PHOTO: KINH LUAN HCMC – ANZ Bank in a recent macro-economic report projected that credit growth in the banking system in Vietnam would accelerate in the last quarter of this year. According to the Vietnam Update report, this year’s lending had grown 7.26% as of end-September compared to 4.33% in August. Domestic liquidity remained abundant with short-term rates in Vietnam dong dropping over September. Despite the subsequent rise in rates, liquidity is still supportive of economic activity. By the end of the third quarter, most commercial banks had cut retail deposit rates by around 20-50 basic points for tenors up to 12 months. Meanwhile, the governor of the State Bank of Vietnam still hopes that a credit growth target of 12-14% is obtainable this year as credit growth usually gains traction by the end of the year. “However, as we mentioned in last month’s Vietnam Update, the credit growth target was only reached last year after extraordinary incentives were passed in the…
- U.S. job growth seen slowing in August, unemployment rate falling below 10%
- WRAPUP 1-U.S. job growth seen slowing in August, unemployment rate falling below 10%
- Surging repayments drive Australian credit card loans to 15-year low
- GDP growth slows to a 11-year low of 4.2%, Q4 slumps to 3.1%
- How HCL Tech balances its organic and inorganic strategy will determine its growth
- RBI observes growth in achievement of priority sector lending targets
- UPDATE 1-Colombia investment grade loss likely, economy seen shrinking 7% -Fitch
- Prospect of stronger demand propels aluminium towards 7-month high
- Sales Analysis: Auto Industry continues strong growth momentum in April FY19
- The path to economic recovery and further growth
Stronger credit growth seen in Q4 have 304 words, post on at April 4, 2017. This is cached page on Vietnam Colors. If you want remove this page, please contact us.