Hanoi (VNA) - Vietcombank has set itself a target of 18 percentcredit growth this year and pre-tax profit of 9.2 trillion VND (over 405million USD).
Agribank hopes toachieve 14-18 percent credit growth and at least 10 percent profit.
Private banks tooexpect credit growth to be higher this year than last year, thus boostingprofits.
For instance, ACBtargets 18 percent expansion.
This was because fora long time banks’ profits have relied mainly on credit, particularly in thecase of small banks.
In fact, for manysmall banks, 80-90 percent of profits come from credit-related activities.
Many economicsectors are forecast to recover strongly this year, possibly giving banks’lending plans a boost.
But analysts areunsure, saying stepping up lending is not an easy task.
A central bank official said this year bank lending would be closelycontrolled, especially long- and medium-term loans to high-risk customers,including those involved in property and in build-operate-transfer andbuild-transfer transport projects.
The central bankwill also focus on improving credit quality and lending to businesses inpriority sectors, meaning banks will not have many opportunities for highcredit growth.
A member of theAdvisory Council on National Financial and Monetary Policies also saidachieving high credit growth this year would be a challenge.
To expand credit, it is necessary to further cut interest rates, particularlyon medium- and long-medium loans, but it is not an easy task because costscontinue to rise due to high deposit interest rates, he said.-VNA
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A branch of Vietcombank (Photo: VNA) 
