SBV Deputy Governor: Credit growth target being monitored
Banking & Finance

SBV Deputy Governor: Credit growth target being monitored

The State Bank of Vietnam (SBV) set a credit growth target of 14 per cent for 2022 at the beginning of the year. SBV Deputy Governor Dao Minh Tu has said that as of the end of August, credit growth had reached 9.91 per cent; high compared to the same period last year. With more than 4 per cent remaining, the central bank will assign new targets to banks in the next few days.
Banking & Finance

BSC forecasts two scenarios for stock market in September

The BIDV Securities Company (BSC) has forecast two scenarios for Vietnam’s stock market in September. Under the first, the VN-Index will balance out at 1,270-1,280 points, moving towards 1,300-1,320 points as liquidity improves and positive sentiment spreads through the market. The Ho Chi Minh Stock Exchange (HoSE) allowing the trading of odd lots from September 2 will also have a positive effect on the market. The second scenario will happen if developed economies show signs of recession and negative sentiment appears, with the VN-Index forecast at around 1,240-1,250 points.
Banking & Finance

Individual bank deposits falling

Data from the State Bank of Vietnam (SBV) shows that after eight consecutive quarters of growth, individual deposits to banks had declined as of the end of June. Experts cite two reasons: the amount of idle funds held by businesses and individuals no longer being so abundant, and credit sources becoming limited as banks have hit their lending limits.