The State Bank of Vietnam (SBV) has allowed credit institutions that fulfil at least 80% of the credit growth quotas assigned by the central bank from the early year to expand their lending limits, depending on their respective ratings, according to an official document released by the SBV on August 28.

The quota expansion falls in line with previous directions from the Prime Minister asking for flexible, effective and timely credit management to meet credit demand of the economy, curb inflation and stabilize the macro economy. Accordingly, the SBV was requested to proactively adjust the credit quotas for credit institutions.

Eligible credit institutions are allowed to expand the credit quotas from August 28.

The SBV reported that bank credit rose by 6.25% as of August 26 in comparison with the end of 2023.