SBV Governor orders banks to tighten credit control
VGP – Commercial banks must tighten credit control and provide no easy lending conditions, said Governor of the State Bank of Việt Nam (SBV) Nguyễn Văn Giàu today at a meeting on credit activities.
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SBV Governor Nguyễn Văn Giàu: Credit must be strictly controlled to prevent inflation in the second half – Photo: VGP |
The Governor asked the banks to pay special attention to the size and structure of short, medium and long-term loans in Vietnamese and foreign currencies in accordance with their capital mobilization, structure and capability.
Credit organizations should give priorities to major economic activities, focusing on production and business fields, to prevent economic downturn.
Earlier on May 22, the SBV issued Decree 01/CT-NHNN on some measures to ensure business safety and effectiveness of the financial organizations. Accordingly, the credit organizations must seriously control their credit standards, especially loans for real property, securities trading and consumption.
Thanks to the Government’s flexible financial and monetary policies, the national economy has showed initial signs of recovery in the first half of 2009. The GDP increased by 4.5% in the second quarter in comparison with 3.1% in first quarter.
In addition, the total mobilized capital rose by 16.2% and credit growth stood at 17.1% in the first half of the year.
By Hải Minh
