HANOI, April 22 (Xinhua) -- A total of 86.2 percent of credit institutions expect their profit this year to grow compared to 2023, Vietnam News Agency reported Monday, citing the latest survey of the State Bank of Vietnam.

The credit institutions in the survey said interest rate, credit and foreign exchange rate policies were the most important factors that would positively affect their business performance throughout this year.

The institutions also forecast that customers' demand for banking services will improve in 2024 due to the expectation that the economy and the manufacturing industry will have positive developments, exports will gradually recover, and loan demand will be higher than deposit demand.

Total credit of Vietnam's economy grew by 1 percent to reach 13.79 quadrillion Vietnamese dong (552.4 billion U.S. dollars) in the first quarter, according to the central bank.

The bank has set a credit growth target of 15 percent for the domestic banking system this year. Enditem

Related

Go to Forum >>0 Comment(s)