VCSC Daily - SBV remarks rattle investors – January credit growth drops 0.79%

Remarks made by Mr. Nguyen Dong Tien rattled the Vietnamese market into negative territory. The SBV Deputy Governor revealed there were at least 10 credit institutions, belonging to Group 4 of a recently announced categorisation scheme, that will need to restructure and are at risk. The SBV had issued Directive 01/CT-NHNN on 13 February 2012 which assigned credit growth limits to four groups. Group 1 consisting of the strongest credit institutions would be allowed up to 17% credit growth while m