Vietnam bank credit growth to reach 21.82pc

Credit institutions in Vietnam expected credit growth to reach 21.82 per cent in 2016, according to the State Bank of Vietnam`s (SBV) survey for the fourth quarter on Monday.

The expected growth will stay higher than the 17.26 per cent of 2015 and the 20.4 per cent forecast during the previous survey in Q3, reported Vietnam`s state-run news agency VNA.

Also, it will surpass earlier SBV`s targeted credit growth of around 18-20 per cent in 2016.

In the survey on business performance prospects of credit institutions in Q4 and the whole year of 2016, the institutions forecast that credit growth in the last quarter of this year would be 7.37 per cent, of which lending in Vietnamese dong would rise 7.93 per cent.

Under the survey, some 87.6 per cent of the surveyed institutions said that their liquidity for both Vietnamese dong and the US dollar is good, according to a news agency report.