State Bank Caps Credit Growth for 2012 at 17 Pct
The State Bank of Vietnam (SBV) has capped local banks’ annual credit growth for 2012 at a maximum of 17 percent, according to a regulation recently issued by SBV Governor Nguyen Van Binh.
The central bank said local credit institutions will be divided into four groups according to their performance. The maximum credit growth rates set for each group are 17 percent for the top performing group, then 15 percent, 8 percent and 0 percent.
Lenders are required to stay within the credit growth targets allocated by the SBV.
The rates will be re-adjusted after six months based on the banks’ performance and new developments on the market.
On the same day, the SBV Governor also ordered foreign banks in Vietnam to comply strictly with the SBV regulations for controlling credit growth.
Nhan Dan
Vietnamese
