Ho Chi Minh City recorded credit growth of 1.25 per cent in the first quarter of 2023, a positive sign amid the sharp decline in the city’s economic growth during the period, according to the State Bank of Vietnam (SBV)’s Ho Chi Minh City branch.

March saw the highest credit growth in the quarter, with 1.37 per cent.

The banking system continued to take measures and introduce programs during March to tackle the capital difficulties facing businesses in the city in order to boost economic growth, according to Mr. Nguyen Duc Lenh, Deputy Director of the SBV’s Ho Chi Minh City branch.

Businesses are required to use credit effectively in line with regulations and continue renewing and improving their administration capacity in order to gain full access to support programs from the government and the central bank, he said.