HANOI, Dec 24 (Reuters) - Vietnam’s annual credit growth this year is expected to quicken to 18 percent, beating a previous government target of 17 percent, the State Bank of Vietnam said on Thursday.
Bad debts in the banking system have been reduced to 2.72 percent of loans as at Nov. 30, from 2.93 percent at the end of September, the central bank said in a statement.
Lending of the banking sector as of Dec. 21 has expanded 17.17 percent from the start of 2015, faster than the 13.59 percent growth of deposits in the same period, it said.
Money supply as of Dec. 21 rose 13.55 percent, below the central bank’s target of between 16-18 percent for the whole year. (Reporting by Mai Nguyen; Writing by Ho Binh Minh; Editing by Martin Petty)