Credit growth in 9 months rises 10.46 pct

15:03 | 03/10/2016 Economy

(VEN) - Credit growth in the first nine months of this year rose by 10.46 per cent compared with the end of 2015, the latest report of the General Statistics Office showed.

Credit growth in 9 months rises 10.46 pct


The rise, however, was still lower than the 10.78 per cent recorded in the same period last year.

HCM City reported a credit growth of 11.9 per cent for the period, the highest level of increase for the past few years.

Capital mobilisation in the first nine months also increased 12.02 per cent against the end of last year.

GSO said the deposit interest rate is currently relatively stable, rising by roughly 0.2-0.3 percentage points against December last year.

Early this week, some major State-owned commercial banks, such as Vietcombank, VietinBank, Bank for Investment and Development of Viet Nam and Agribank, lowered interest rates by 0.3-0.5 percentage points for deposits in dong with terms of less than a year.

The move is expected to help commercial banks save costs to cut lending rates, thereby supporting production, business activities and the economy./.

Source: VNS