Credit growth hits 5-year low

A representative from the Credit Department under the SBV said that the credit structure has shifted its focus towards manufacturing, especially in prioritized fields, while loans have been tightened to sectors posing potential high risks.

Upon breaking down, outstanding loans for the trade and services sector rose the highest in 2018 by nearly 16%, followed by industry and construction with 12.1%, and agriculture with 8.8%.

The banking sector also targets having 12 - 15 commercial banks meeting Basel II standards by 2020.