Speaking at a meeting with commercial banks on Saturday, State Bank of Vietnam Governor Nguyen Van Giau said it was not necessary for the central bank to tighten control over lending right now.

However, commercial banks should keep their lending in check and allow less money to flow into the market in the final months, he said.

Giau said in a statement last month that credit growth in Vietnam’s banking system will slow in the next few years from the 30 percent targeted this year.

Loans at most of state-owned banks have reached or even exceeded the credit growth cap of 25 percent set for them, Saigon Tiep Thi newspaper reported last month. Loans at some partly private banks have also expanded by more than the 30 percent cap, leaving no room for further credit growth.

The governor said Saturday that the central bank plans to hold its benchmark base rate at 7 percent for the rest of the year and the first months of next year. The base rate has been set at 7 percent since February.

Rol.vn - Source: Thanhnien News