The State Bank recently announced that as of August 26, credit in the entire banking system increased by 6.63% compared to the end of last year, much lower than the target set at the beginning of the year of 15%.
Credit growth of credit institutions is uneven, some places have low growth, even negative growth while some have increased close to the target announced by the State Bank.
Therefore, in order to implement the direction of the Government and the Prime Minister on flexible, effective and timely credit growth management, meeting credit capital for the economy and controlling inflation, stabilizing the macro-economy, the State Bank adjusts credit growth targets for credit institutions, while continuing to implement the policy of the National Assembly and the Government on gradually removing measures to assign credit growth targets.
Banks are almost out of credit room granted since August 28 (Photo: Manh Quan).
Recently, the monetary authority has sent a document to credit institutions announcing the additional credit growth rate according to specific principles, ensuring publicity and transparency.
"From August 28, credit institutions with a credit growth rate this year reaching 80% or more of the target announced at the beginning of the year will be able to proactively adjust their credit balance based on the credit institution's rating score. This additional limit is the State Bank's initiative and credit institutions do not need to request it," the State Bank announced.
Since the beginning of the year, the State Bank has assigned the entire credit growth target of 15% and clearly stated that it will adjust based on actual developments.
In addition to credit growth, the State Bank requires credit institutions to strictly implement instructions on monetary activities and regulations on credit granting to improve business efficiency, ensure system safety and market stability.
Credit growth but banks must ensure safety, efficiency, limit bad debt, direct credit to production sectors, priority sectors for economic growth according to the Government 's policy; strictly control sectors with potential risks.
Banks are also required to continue to maintain stable deposit interest rates, reduce operating costs, simplify lending procedures, and reduce lending interest rates.
In the coming time, the State Bank will continue to closely monitor domestic and international market developments to promptly have appropriate monetary policy management solutions, ready to support liquidity to create conditions for credit institutions to provide credit to the economy.
Source: https://dantri.com.vn/kinh-doanh/ngan-hang-nha-nuoc-cap-them-room-tin-dung-cho-nha-bang-dung-gan-het-20240829000537440.htm
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