Vietnam central bank caps 2012 annual credit growth at 17 pct

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Vietnam's central bank said it has allocated various annual credit growth targets for domestic banks for 2012, ranging between zero and 17 percent, after loans of the entire banking sector rose 10.9 percent last year.

The State Bank of Vietnam divided banks into four groups, which have maximum loan growth rates of 17 percent, 15 percent, 8 percent and zero respectively, it said in a statement posted on its web site (www.sbv.gov.vn) late on Monday.

The central bank did not name the banks in each group.

Unlike previous years when the banking sector shared one target, this is the first time there are a number of target rates after experts said that would be more suitable due to different financial strength of individual banks.

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