Credit grows 7.26 percent

The total means of payment increased 10.73 percent, capital mobilization went up 11.01 percent and credit of the economy rose 7.26 percent in the first nine months this year, reported the State Bank of Vietnam (SBV).

The liquidity of credit institutions was ensured and interbank interest rate continued reducing.

SBV has kept stable management interest rate, deposit interest rates in Vietnamese dong and US dollar, and short term loan interest rate in Vietnam dong in priority sectors.

It has also instructed commercial banks to further reduce loan interest rate including old loans.

Deposit and loan interest rates in Vietnamese dong have so far fallen 0.5-1.5 percent per year over last yearend, contributing to solve difficulties in production and trading.

By Ham Yen – Translated by Hai Mien

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