Ho Chi Minh City registered a year-on-year credit growth of 11.06% in the first half of 2024, according to the State Bank of Vietnam (SBV)’s Ho Chi Minh City branch.

Particularly, credit in June posted the highest increase of 2.03% compared to the previous months.

Deputy Director of the SBV’s HCM City branch Nguyen Duc Lenh said the credit growth has contributed to boosting the city’s socio-economic development with a GRDP growth of 6.46% during the six-month period.

Credit activities met demand of businesses for capital to promote production and trade, he said.

Business loans for five sectors, including small- and medium-sized enterprises, exports, agriculture and rural areas, supporting industry and high-tech firms, reached over VND1.58 trillion ($62 million).