The department reported that lending in Vietnamese dong rose 8.11% compared with the end of 2015 and 22.95% over the same period last year, accounting for 90.8% of the economy’s total credit.
Meanwhile, lending in foreign currencies was down 4.64% against the end of 2015.
Nguyen Tien Dong, head of the department, said loans were poured into five priority areas: agriculture, aquaculture, support industry, exports, and hi-tech production.
In the first half of this year, the banking sector offered loans worth more than VND1,029 trillion (US$46.7 billion) to small and medium-sized enterprises, up 2.62%, and making up one fifth of the total outstanding credit.
As of late June, outstanding loans for agriculture and rural areas reached VND886 trillion (US$40.2 billion), marking a 4.98% increase and equivalent to 18% of the total.
Loans for exports, industry and hi-tech firms hit VND183.4 trillion (US$8.33 billion), VND121.5 trillion (US$5.5 billion) and VND28.6 trillion (US$1.3 billion), respectively.
This year, the SBV targets a credit growth rate of between 18% and 20%.
Credit growth hits 6.82% in first half of 2016
Lending in Vietnam grew 6.82% in the first half of the year, marking the second consecutive year the country posted positive growth, according to the State Bank of Vietnam (SBV)’s Credit Department.
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