Some 80 per cent of credit institutions said their business performance improved in 2022 compared to 2021, according to the latest survey from the State Bank of Vietnam (SBV).

The survey on business trends at credit institutions revealed that 87 per cent enjoyed growth in pre-tax profit compared to 2021.

They said that the credit policy, interest rates, and exchange rates of the central bank were the most important contributing factors, followed by business conditions, customer finances, and the economy’s demand for their products and services.

Credit institutions are more cautious about their forecasts, with 56.4-75.4 per cent of respondents expecting better business performance in the first quarter and 2023 as a whole; lower than in 2022.