HANOI, Aug. 1 (Xinhua) -- The State Bank of Vietnam has raised the credit growth target for commercial banks in an effort to support economic growth while keeping inflation under control, Vietnam News Agency reported Friday.
Although the central bank did not disclose the scale of the adjustment, it emphasized that the revision of credit growth quotas was carried out based on specific principles to ensure transparency.
As of July 28, Vietnam's total outstanding loans had increased by 9.64 percent compared to the end of last year, according to the bank.
Earlier this year, the central bank assigned individual credit growth limits to commercial banks, with a system-wide credit growth target of approximately 16 percent for 2025. ■
