The National Financial Supervisory Commission (NFSC) forecast Vietnam’s credit to grow 17- 18 percent in 2018, similar to the growth last year.

The National Financial Supervisory Commission (NFSC) forecast Vietnam’s credit to grow 17- 18 percent in 2018.

The commission said credit growth slowed down in January due to seasonal factors such as Tet holiday being around the corner. Deposit growth slid in the first month of 2018; however, it picked up from February.

Credit is predicted to accelerate from the end of the first quarter.

Credit tends to increase in short-term credits, 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 Tet holiday.

Credit institutions have aimed for 17.71 percent in the credit growth of Vietnamese Dong and 7.39 percent of foreign currencies.-VNA