HANOI, Sept. 8 (Xinhua) -- As of Aug. 23, 2016, credit growth of Vietnamese banking system reached 9.09 percent compared to the end of 2015, according to the latest report by the State Bank of Vietnam (SBV) on Thursday.
The credit structure continues with a transition process, with more focus on business, production activities while credit in real estate or other risky sectors is under control, said the country's central bank.
Specifically, as of August, loans for agriculture and rural development among local credit institutions hit around 900 trillion Vietnamese dong (40.36 billion U.S. dollars), up 6.64 percent compared to the end of last year, accounting for some 18 percent of total outstanding loans of the economy, said the bank.
In 2016, the SBV targeted credit growth of around 18-20 percent, which can be adjusted following real developments of the economy.
The year 2016 is expected to be the first year Vietnam experiences continuous credit growth. In previous years, Vietnam's credit growth usually dropped or almost stayed unchanged in the first few months and then made sharp climbs during remaining months of the year.
