State Bank grants more credit 'room' to many banks

The State Bank has just increased credit growth targets for a number of banks.

State Bank loosens room for banks to increase credit effectively - Photo: QUANG DINH

State Bank proactively loosens room

The addition of this limit is proactively implemented by the State Bank, without requiring banks to request it.

Along with increasing credit limits, the State Bank requires banks to strictly comply with instructions from the Government, the Prime Minister and the State Bank .

Banks need to implement solutions to improve operational efficiency, ensure system safety, and stabilize the monetary market. Direct credit to production and business sectors, priority sectors, and economic growth drivers.

For areas with potential risks, the State Bank requires strict control to limit the risk of instability.

In addition, the State Bank encourages banks to continue implementing policies to support businesses and people to access credit more easily.

At the same time, maintain stable deposit interest rates, reduce costs to reduce lending interest rates. Simplify administrative procedures, increase the application of information technology and digital transformation.

The State Bank also said that in the coming time, it will continue to closely monitor domestic and international market developments and is ready to support liquidity to create conditions for banks to provide timely capital to the economy.

Monetary policy management solutions will be flexibly implemented by the State Bank , in accordance with the practical context, ensuring the achievement of socio-economic development goals in 2024.

Second credit room expansion this year

From the beginning of 2024, the State Bank has assigned credit growth targets to banks with an increase of about 15%.

As of August 28, banks that have lent more than 80% of their credit quotas granted since the beginning of the year have had their limits increased by the State Bank.

This is the second credit room expansion this year.

According to statistics, as of November 22, system-wide credit increased by 11.12% compared to the end of 2023, lower than expected.

In the context of inflation continuing to be well controlled, under the targets set by the National Assembly and the Government, the State Bank decided to further adjust the credit growth limit to promptly meet capital needs for production and business activities, contributing to promoting economic development.

Source: https://tuoitre.vn/ngan-hang-nha-nuoc-cap-them-room-tin-dung-cho-nhieu-ngan-hang-20241128203804479.htm