Credit demand in Vietnam will surge later this year, thanks to ample funds at banks now and lower borrowing costs, according to a central bank official, the Vietnam News newspaper reports.
Credit in the country’s banking system as of May 23 grew just 1.31 percent from the end of 2013, based on central bank data, the report said.
Vietnam has targeted loans to grow 12-14 percent this year from 2013.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Hanoi Newsroom; Editing by Anand Basu)