Credit in HCMC grows 12 percent in nine months

Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam - Ho Chi Minh City Branch, said that by the end of September 2022, credit growth in the city is estimated to increase by 12 percent compared to the end of 2021, a sharp increase of 4.97 percent (in 2021), 4.99 percent (in 2020), and 10.2 percent (in 2019), respectively, compared to the same period in the previous three years.

Credit in HCMC in the first nine months of the year climbed sharply, thanks to the city's economic recovery and growth. Credit growth is attached to meeting the capital needs of HCMC-based enterprises, business households, and cooperatives in many fields.

Many areas posted good growth. Specifically, foreign currency lending (mainly for import and export sectors) reached VND205 trillion, up 12.7 percent compared to the end of 2021; loans to industrial parks and export processing zones hit VND224.2 trillion, up 14.67 percent; short-term loans in VND for five groups of industries and priority fields nearly touched VND200 trillion, up 4 percent.