Vietnam's banking industry meets credit growth target in 1H

Improving conditions: A construction worker building a house in Hanoi. Experts say a recovery in the real estate sector is expected to drive loan growth in the second half. — AFP

HANOI: Credit by the end of June 2024 (1H24) increased by about 6% compared with the beginning of the year, reaching nearly 14.4 quadrillion dong, a positive signal showing this year’s credit growth target of 14%-15% is within reach, experts say.

The loans that credit institutions provided to the economy in 1H24 were at the highest level compared to the same period in the past three years, the latest data from the State Bank of Vietnam (SBV) showed.