Vietnamese banks’ total lending rose 4.81% as of September 16

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Vietnamese banks’ total lending rose 4.81% as of Sept. 16 from the end of last year, the State Bank of Vietnam said on Tuesday.

Vietnam’s economic growth traditionally relies heavily on increased credit, though authorities have been trying to reduce this reliance. The central bank has previously said it was targeting 11%-14% credit growth for this year.

The country’s total money supply, M2, rose 7.58% as of Sept. 15 from end-2019, the central bank said.