Credit growth will expand significantly from Quarter 2 and exceed the State Bank of Vietnam (SBV)’s target of 12 percent for the year as a whole if the pandemic is brought under good control and the vaccination campaign proves effective, according to insiders.
Expecting domestic recovery in its strategic investment report for 2021, the VNDirect Securities Corporation forecast that this year credit growth would top 13 percent and interest rates could fall 20-50 percentage points in the context of loose monetary policy and low inflationary pressure.
According to economist Nguyen Tri Hieu, it is necessary to stimulate credit demand to achieve effective credit growth. However, banks should be able to control their customers’ sources in covering debts to ensure credit growth criteria and the quality of collateral./.
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