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VietNamNews

State Bank allocates credit growth rates to banks

Update: February, 14/2012 - 11:04

Ha Noi--The State Bank of Viet Nam (SBV) officially announced on Monday the rates of credit growth allocated for commercial banks this year.

Under the Direction No 01 issued by the Governor of SBV Nguyen Van Binh, four credit institutions and bank groups are allocated credit growth rates from zero to 17 per cent this year.

Of this, commercial banks and credit institutions will be allocated growth based on the health of the organisation and their performance last year. Institutions will be classified into four groups based on SBV criteria, with well-performing lenders classed in group A and weaker lenders in group D.

Specifically, group A will be allocated the highest credit growth of 17 per cent for the year; group B, 15 per cent; group C, 8 per cent and group D, zero per cent.

After six months, the central bank will review such allocations and may adjust the growth rates to meet monetary policy goals.

The list of the four groups of banks and credit institutions has not been revealed yet.

Last year, the SBV issued a general rate of under 20 per cent for all banks.--VNS

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