Credit growth reaches 6.22 percent in first half of 2019

15:00 | 01/07/2019 Finance - Banking

Vietnam’s credit growth in the first half of 2019 was estimated at 6.22%, higher than the 6.1% growth rate recorded during the same the period of last year.

Credit growth in the first half of 2019 is higher than that in the same period of 2018

According to the General Statistics Office (GSO), main monetary indicators were close to the set targets.

As of June 18, M2 money supply increased by 6.05% over the end of 2018 while credit institutions’ capital mobilisation climbed 6.09%, the GSO said in its latest report.

An earlier report showed that as of June 10, M2 money supply rose 5.17% against the end of 2018 while credit to the economy went up by 5.75%.

In recent months, the State Bank of Vietnam has regulated interest rates in accordance with macroeconomic and monetary developments while credit institutions imposed appropriate lending rates in order to reduce risks and ensure financial safety.

Most of the credit continued to be channelled to productive and priority sectors as instructed by the government whereas credit to risky industries were contained.

Theo NDO