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NEWS UPDATES Asean Affairs        8   June 2011

Government contains credit growth

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The governor of the State Bank of Viet Nam, Nguyen Van Giau, has reiterated that commercial banks must lower their rate of credit growth in non-production by 22 percent by the end of this month.

In an interview on Viet Nam Television on Tuesday night, Giau said 20 joint stock commercial banks currently had credit growth in non-production of more than 22 percent.

He added that some banks' credit growth included loans in real estate, securities and consumption that were far beyond 22 percent.

Two banks he said had credit growth of 50 percent and 52 percent. He added that the SBV would take action against any bank that did not abide by its instruction.

The SBV in March ordered credit organisations, foreign bank branches in Viet Nam, inspection agencies, banking supervision agencies and SBV branches to lower credit growth.

Furthermore, Giau told credit institutions to outline specific plans to ensure a credit growth rate of less than 20 percent and 22 percent in non-production this year.


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It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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