Vietnam to see highest 4-month credit growth in past 3 years

As of the end of April 2015, Vietnam's credit growth reached 2.78 percent, the highest figure in the past three years, said Vietnam's financial watchdog, the National Financial Supervisory Commission (NFSC), on Tuesday.

The respective figures during the same period of 2013 and 2014 were 1.04 percent and 0.53 percent, said NFSC on its website on Tuesday.

In Vietnam, credit growth often stays sluggish in the early months of a year and bounces up in the last months due to increasing demand of local people to purchase and reserve goods for the lunar New Year Festival.

The high credit growth in the first four months of 2015 is a positive signal, presenting that credit growth will not just bounce up during final months each year, assessed the NFSC.

Liquidity of Vietnamese banking system in both Vietnamese dong and U.S. dollar has been improved in four-month period and will maintain stable trend in the coming time, said the commission.

Official statistics showed that in 2014, credit growth of Vietnamese economy hit 12.62 percent. In 2015, the State Bank of Vietnam targeted to realize a credit growth of 13-15 percent.

The NFSC of Vietnam, established on March 3, 2008 is specialized in helping the prime minister supervise the overall national financial market. Endi