The commission said credit growth slowed down in January due to seasonal factors such as Tet holiday being near. Deposit growth slid in the first month of 2018; however, it picked up from February.
Lending is predicted to accelerate from the end of the first quarter. Lending tends to increase for short-term loans, shifting focus on consumer credit. In the first quarter, consumer credit continued its momentum from 2017 and increased in January due to high demand ahead of the Tet holiday.
Credit institutions have aimed for 17.71 percent in the credit growth of Vietnamese Dong and 7.39 percent in foreign currencies.
