Vietnam Biggest Listed Bank Targets Credit Growth Rate of 90 per cent in 2009

Vietnam’s biggest listed bank, Asia Commercial Bank, has targeted its credit growth rate of 90 per cent this year despite difficulties in the banking sector due to the continued impact of the global financial crisis.

 

The figure was announced by Ly Xuan Hai, ACB General Director at a recent meeting with investors at HCM City Securities Company on February 25.

 

Hai said the bank would also raise its credit market share to 5 per cent from current 2.6 per cent.

 

The HCM City-based bank has pledged to provide VND35 trillion (US$2 billion) in interest-subsidized loans for companies.

 

VIB is currently actively working to offer interest rate subsidies for domestic businesses, as required by the government, by pledging to provide VND35 trillion in rate-subsidized loans. It has disbursed more than VND1 trillion since the beginning of the month. (Cafef.vn)