With a credit growth limit of 15 percent in place for 2024, Vietnam’s Banks are expected to issue loans to the tune of US$82 billion this year, VN Express is reporting. The publication also notes that credit growth for 2023 reached 13.71 percent in 2023.
Food for thought:
- Credit growth in Vietnam as of November 22, 2023 was 8.21 percent; however
- It was reported in January credit growth for 2023 had reached 13.71 percent;
- This represents a jump of 5.5 percent in a little over 5 weeks.
- Total credit at the end of 2022 was VND 11,924 trillion (US$490 billion);
- A 5.5 percent increase therefore represents an additional US$26.95 billion;
- After averaging just US$3.65 billion a month for the rest of the year.