SBV approves adjustment of credit growth targets for several credit institutions | Company

The adjustment is based on the latest ranking results according to circular SBV 52/2018 on the rating of credit institutions, branches of foreign banks, the operational situation of credit institutions in 2022, market changes and orientation since the beginning of the year in the SBV directive. 01 relating to the organization and implementation of the key missions of the banking industry in 2022.

According to the SBV, in the coming times, it will continue to implement the contents of Directive 01, creating favorable conditions for people and businesses to access bank credit and support economic recovery.

Since the beginning of 2022, for the contribution to the economic growth objective of approximately 6% to 6.5% and to the average inflation rate of approximately 4% set by the National Assembly and the Government, in its Directive No. 01, the State Bank continued to administer and assign credit growth targets to each credit institution in accordance with the system’s credit growth guidance of approximately 14% with adjustments based on developments and real situations.

In addition, the SBV also ordered credit institutions to develop credit safely and efficiently disburse money to production and business activities in order of priority in accordance with government policy. In addition, SBV will strictly control credit in potentially risky areas and create favorable conditions for individuals and businesses to access bank credit capital.

The State Bank has announced credit growth targets in 2022 for each credit institution based on the ranking results of each credit institution, as prescribed in the amended and supplemented Circular 52/2018. The State Bank and credit institutions jointly support weak credit institutions, reducing loan interest rates to support businesses and individuals.

As of August 26, credit has increased by 9.91% compared to the end of 2021, a strong increase compared to the same period in recent years, in line with economic growth, support for businesses and the positive economic recovery. these last months. The credit structure focuses on production and activity sectors, priority areas, while credit to potential risk areas is strictly controlled, in accordance with Directive 01.

By Quang Minh – Translated by Anh Quan