HANOI, Oct. 23 (Xinhua) -- The outstanding loans of the entire Vietnamese banking system are expected to increase 4.6 percent in the fourth quarter and 12.3 percent in the whole of this year, down from an earlier prediction of 12.5 percent, Vietnam News Agency reported Monday, citing the State Bank of Vietnam (SBV).
According to the SBV, the country's credit growth has accelerated in recent months.
SBV Deputy Governor Dao Minh Tu hoped that Vietnam's credit growth will gain speed in the last three months as usual.
He said the central bank would continue the work in a way that guarantees macro-economic stability. Interest rates will be kept stable, and rate cuts could be considered when conditions are in place to ensure inflation control, capital supply, and liquidity for credit institutions and the economy.
Vietnam recorded over 12.7 quadrillion Vietnamese dong (517.5 billion U.S. dollars) in credit as of the end of September, up 6.92 percent from the end of 2022. ■