Business

Maintaining credit growth but controlling risks

SGGP
Deputy Director of the SBV Monetary Policy Department Bui Thuy Hang said that the credit balance of the whole economy by November 25 increased by 10.1 percent compared to the end of last year.
Currently, credit growth has risen by 1.38 percentage points, aiming at manufacturing and priority sectors according to the policy of the Government. However, credit into potentially risky areas will be strictly controlled. The banking industry also implemented many solutions to contribute to the recovery and support of the economic recovery momentum to realize the dual goals of the Government.

Specifically, by October 25, credit institutions had restructured the repayment terms and kept the debt groups unchanged for over 330,000 customers affected by the pandemic with a total outstanding loan of VND250 trillion. They had exempted, reduced, and lowered interest rates for about 1.8 million customers affected by Covid-19 with a total outstanding loan of nearly VND3.5 quadrillion.

By Nguyen Nhung – Translated by Gia Bao

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